Parkdean Resorts set to be valued at £1.5bn

Parkdean Resorts sale
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Parkdean Resorts is to be put up for sale by its private equity owner, according to reports, with the company’s 67-site holiday park estate set to be valued at £1.5bn.

 

Capitalising on the recent rise in staycation bookings, Onex Corporation has entered discussions with a major bank in order to place the group on the market.

“Onex Corporation and Parkdean are working with Morgan Stanley on a potential sale of the resort operator that could value it at around £1.5bn,” reported Sky.

“City sources say a sale process is likely to be launched in the coming months, although a refinancing under the current owner remains a possibility.”

Onex purchased Parkdean in 2016 for a total consideration of £1.3bn, however the high demand for domestic tourist bookings last year has seen holiday park operators keen to offload their assets at what may prove a peak price.

HSBC and Royal Bank of Canada confirmed that Parkdean competitor Park Holidays received final bids on 1 November from the four parties interested in acquiring the 34-site operator for more than £850m, with a final decision yet to be announced.

Butlin’s and Haven owner Bourne Leisure was also sold to private equity giant Blackstone in February, while CVC Capital Partners acquired Away Resorts in June.


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