Vacation rental company Awaze has agreed to sell its holiday parks business Landal GreenParks to Netherlands-based Roompot for an undisclosed amount.
Landal GreenParks is a fully integrated holiday parks owner, operator and franchisor in continental Europe, with a portfolio that includes approximately 100 holiday parks in the likes of Belgium, Denmark and Germany.
Roompot's portfolio currently consists of over 200 parks and holiday locations in Central and Southern Europe.
Both companies are backed by American private equity. Awaze is owned by Platinum Equity and Roompot was bought by KKR in 2020 in a deal worth $1.1 billion.
Awaze’s managed vacation rentals business, which includes the cottages.com, Hoseasons, James Villa Holidays and Novasol brands, is not involved in the sale.
“Dirk Anbeek and the entire Landal team have done an outstanding job taking what was a good business and turned it into a great business. This transaction provides Landal the right home for the future where they can continue to build an amazing experience for guests for the long term,” Henrik Kjellberg, CEO of Awaze, said.
“At Awaze, we will continue building out Europe’s leading vacation rental management company, investing in our technology platform and upgrading the experience for our owners and guests. We have tremendous momentum, driven by unprecedented demand for rental properties across Europe. We are managing more vacation homes and delivering more stays than ever before.”
The Covid-19 pandemic has seen holiday park trips increase in popularity as people had no choice but to stay closer to home. At the same time investment interest in the sector has increased with a number of high-profile deals, including: Blackstone’s acquisition of Bourne Leisure in the UK. The owner of Park Holidays is also reportedly looking at a sale.