Parkdean Resorts presses pause on sale over economic concerns

Parkdean Resorts, Britain's biggest holiday park operator, has pressed pause on a sale of the business due to concerns over the economic environment.

Sky News reported that the company has called off talks with potential buyers over a £1.6b sale more than six months into an auction process.

Parkdean Resorts owns and operates 66 holiday parks across the country. It was bought by its Canadian owner Onex Corporation for £1.3b in 2016.

A spokesperson for Parkdean Resorts told The Caterer: "The staycation market remains very buoyant, the business is trading strongly and is well positioned for growth, having invested £110m into the business over the past six months, expanding the trading footprint, acquiring new land to develop, upgrading accommodation, and enhancing park facilities.

"Given the current broader macroeconomic uncertainly, the Board has decided to pause the process and will revisit when the macroeconomic backdrop has improved."

Parkdean Resorts began a major investment across its parks this year that will see more than 850 caravans and lodges developed at 16 parks and direct-to-van WiFi installed at 50 sites by the end of the year.

The business has a freehold property footprint of 3,500 acres of land including forests, peatbogs, rivers, beaches and headlands.