Staycation frenzy grips leisure business as Park Holiday seasons house owners mull sale | Business News

The staycation frenzy gripping Britain’s leisure sector is spurring yet another of the country’s most important getaway park operators to think about putting itself up for sale.

Sky Information has learnt that Park Holidays, which is owned by the financial investment agency Intermediate Cash Group (ICG), has appointed bankers to oversee a strategic critique that business sources be expecting to bring about an auction afterwards this 12 months.

The organization is the greatest operator of its variety in the south of England, with 33 websites less than its ownership, such as at Dawlish in Devon, Felixstowe in Suffolk and Birchington in Kent.

It delivers caravan and lodge vacations, touring and camping, and holiday getaway residence ownership.

HSBC and Royal Lender of Canada have been appointed to take care of the evaluate.

Insiders explained on Friday that if it does get sold, Park Vacations would command a cost “nicely in extra” of the £362m that ICG paid out to invest in the enterprise from Caledonia Investments in 2017.

Confusion over the government’s vacation information to nations on its ‘amber list’ of international locations is likely to spur a glut of domestic holidays by Britons this 12 months.

Before this month, Sky News revealed that CVC Funds Associates, the personal fairness giant, was in talks about a takeover of Away Resorts – the owner of perfectly-recognised holiday parks this kind of as Whitecliff Bay on the Isle of Wight and Sandy Balls in the New Forest.

Bourne Leisure, the owner of Butlin’s and Haven, was sold in February to Blackstone, a different key buyout business.

A amount of other gamers in the marketplace, including Verdant Leisure, are up for sale as operators request to exploit booming desire.

A spokeswoman for ICG declined to remark on Friday.