EDITOR'S COMMENT
• There has been some speculation that merger and acquisition [M&A] activity is set for a slowdown in the short-term rental industry, but it appears the holiday park sector is defying that prediction. Holiday village company Center Parcs is one such case, having been put up for sale by Brookfield for a figure between £4 billion and £5 billion, eight years after the private equity firm bought it from Blackstone for £2.4 billion.
A potential sale may be some way off yet but recent news suggests that there will be no shortage of investor interest in a brand that operates six holiday villages in the UK and Ireland and attracts more than two million visitors on an annual basis. In September, Blackstone announced that it was set to sell British seaside resort chain Butlin’s to the co-founders of Bourne Leisure, while French campsite franchise Les Vacances Camping Paradis has secured investment and pan-European leisure park operator The Looping Group is on the verge of being acquired by PAI Partners.
Parkdean Resorts represents a tale of caution, though, having entered into talks with bankers over a £600 million refinancing after turning its back on a prospective sale in February.
Domestic travel is experiencing a boom once again leading up to the summer, fuelled in part by the cost of living crisis and also by demand for 'bleisure' and group trips, and holiday parks provide the amenities and facilities to satisfy staycationers. If the slowdown in M&A activity is to play out, expect to see this in Q3 / Q4 - STRz knows of at least three STR acquisitions that should be announced in the coming weeks and there will likely be more.
• After my extended trips to Malaga and Barcelona for Vitur Summit and the Short Stay Week, it's time to turn our attention back to STRz webinars. Don't miss our next enlightening conversation on "What happens when it all goes wrong? Prevention techniques to avoid catastrophe" on Tuesday 6 June [4pm BST] - sign up for free at this link.
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