Managers complete buyout of Park Resorts
The management of Park Resorts Group Ltd has completed a buyout of the business from ABN AMRO Capital.
The acquisition was achieved with the financial backing of GI Partners, a transatlantic private equity fund.
ABN AMRO Capital was responsible for merging Park Resorts with GB Holidays in December 2004.
Park Resorts now operates 35 holiday parks in UK coastal locations and specialises in self-catering short break holidays in quality caravan, chalet and lodge accommodation.
It also has a touring operation with 19 holiday parks welcoming tents, caravans and tourers. Some caravans at each park are also privately owned.
Park Resorts Group CEO David Vaughan said: “This is a great time for UK holidays and bookings are booming at the moment so it is going to be very much business as usual as we gear ourselves up for the park openings at Easter.”
Vaughan heads up the management team, which employs over 2,000 full and part time staff at the peak of the season.
By Bev Fearis
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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