M&A

Owner of UK holiday resort operator eyes sale

By Patrick Whyte Oct 6, 2021 10:50am

Insight Comment
Over the last few months there have been plenty of stories suggesting UK coastal resort towns have been overwhelmed by tourists. Some will undoubtedly have done very well but we should remember that much of the UK’s tourism industry relies on big-spending foreign travellers, who have largely been absent over the past 18 months.

Canada’s Onex Corporation is reportedly looking at a sale of its Parkdean Resorts business.

Sky News reported that Onex is talking to investment banks about potentially offloading the business that it bought for £1.35 billion in 2016.

Any sale would capitalise on a hot UK staycation market that has been one of the beneficiaries of Covid-19 travel restrictions.

Earlier this year CVC Capital Partners bought a majority stake in Away Resorts, which operates parks in nine locations across the UK, and then almost immediately merged it with rival Aria Resorts.

And in February, Blackstone completed its deal to buy Butlin’s owner Bourne Leisure.

Parkdean Resorts declined to comment to Sky News.

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