Starwood Capital among suitors for £850m staycations giant

Oct 12, 2021 | News

One of the world’s biggest specialist real estate investors is mulling an £850m takeover bid for Park Holidays, the UK resort operator.

Sky News understands that Starwood Capital, run by Barry Sternlicht, is among the parties shortlisted by advisers to Park Holidays.

Starwood Capital joins the private equity firm PAI Partners and the Universities Superannuation Scheme, Britain’s biggest pension scheme, as bidders for the staycations giant.

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Last week, Sky News revealed that the Canadian owner of Parkdean Resorts was close to instructing bankers to prepare a sale of the company.

Other recent deals in the sector have included CVC Capital Partners buying Away Resorts – the owner of well-known holiday parks such as Whitecliff Bay on the Isle of Wight and Sandy Balls in the New Forest – and subsequently combining it with Aria, another operator.

Bourne Leisure, the owner of Butlin’s and Haven, was sold in February to Blackstone, another major buyout firm.

A Starwood Capital spokesman declined to comment.

Source: Sky News

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