Another US buyer scoops up holiday park chain

US-based Cove Communities has swooped in to buy Scottish holiday park operator Argyll Holidays for reportedly more than £100 million.

Argyll Holidays owns eight parks across Argyll and Bute. The deal sees Cove Communities add to its UK portfolio, which already includes sites in West Sussex, Cornwall and Essex. 

Investor interest in the sector has ramped up over the pandemic with a number of deals done. Huw Pendleton, owner of Celtic Holiday Parks, told the Financial Times that he had been contacted by twice the usual number of potential buyers.

Other notable deals include, Blackstone’s purchase of Bourne Leisure and Sun Communities agreed acquisition of Park Holidays.

Argyll Holidays director Keith Campbell told the BBC: "Whilst we have been approached over the years by different buyers, Cove was the first company that we felt understood what we stand for and could continue what we started."