The sale of Center Parcs UK for an undisclosed sum was confirmed this morning.
Brookfield Property Partners is acquiring the UK resorts operator from private equity giant Blackstone.
Center Parcs chief executive, Martin Dalby, said: “This announcement marks the beginning of an exciting new chapter for Center Parcs.
“From the first time we met, Brookfield has demonstrated a real understanding of our business and I am absolutely convinced that we can work together to achieve our strategic goals.
“I believe the future of Center Parcs is in very good hands with Brookfield.”
Ric Clark, chief executive of Brookfield Property Group, said: “To date, Brookfield Property Group’s investment activity in the UK has focused primarily on the office and logistics market; however, our global portfolio has always encompassed a broader mix of asset types including property deriving its returns from leisure activities.
“Center Parcs’ villages are high-quality, popular short break destinations for friends and families, with loyal guests and outstanding service.
“Although these resorts are already producing steady streams of cash flow supported by nearly full occupancy year-round, we see compelling opportunities to grow the business and enhance our investment returns.”
Blackstone Group International Partners, chairman Gerry Murphy said: “Having bought Center Parcs in 2006 and invested in its growth, it has been an excellent investment for us.
“We are sure that it will go on to even greater success under new ownership.
“The management and employees of Center Parcs are outstanding and will take the business onto a new chapter in its story.”
Center Parcs operates five short break destinations in Nottinghamshire, Suffolk, Wiltshire, Cumbria and Bedfordshire and expects to attract two million holidaymakers this year.
Occupancy levels have averaged 97% over the last five years.
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