Major holiday park group becomes part of United States company
The giant Park Holidays UK group, which owns and manages 42 British holiday parks, has been acquired by a United States investment trust company
Park Holidays UK offers touring, rental and holiday home and lodge purchase. Its parks are mainly in the south of England, but it also has a park in the Midlands, two in the north and one in Scotland.
The company says the £950 million acquisition, by Sun Communities, Inc. (known simply as Sun) will enable expansion of its parks portfolio and further investment in its existing holiday centres.
Tony Clish, Park Holidays UK Director, said,
The domestic holiday market continues to gain traction in the post-Brexit and post-pandemic environment, and we are seeing an ever-increasing demand for UK holidays. The partnership with Sun will bolster our ability to acquire new parks, and to continue driving up quality standards by making additional investment in our existing parks.
Our two companies share precisely the same values in terms of delivering an exceptional experience to customers at realistic value-for-money prices. In the run-up to this acquisition, it has become very apparent that the teams at Sun and Park Holidays UK are very much of one mind regarding the future. We both recognise that quality and value are the main drivers of holiday bookings and holiday home sales, and are determined that this will remain our prime competitive edge.
John McLaren, Sun's President and Chief Operating Officer, said that an extremely dynamic partnership had been created by the acquisition.
He said,
We are excited to welcome the Park Holidays’ team members, holiday home owners and guests to the Sun family, marking another important milestone in our growth and evolution.
Sun is one of the largest owners and operators of manufactured housing, recreational vehicle and marina properties. The acquisition was agreed in November 2021, and concluded this month (April) following approval from the Financial Conduct Authority.
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