New Owners For Center Parcs
The UK Center Parcs holiday resorts business has been sold to a Canadian investment firm.
Brookfield Property Partners, a Toronto-based company, announced it was buying the UK holiday village company from its private-equity owners, Blackstone for an undisclosed sum of funds.
Brookfield will take ownership of five Center Parcs sites in the UK, each consisting of holiday homes set in 400 acres of woodland. The company’s occupancy levels have averaged approximately 97 per cent over the last five years. The transaction is due to complete by the end of July. Center Parcs Europe will remain a separate business.
Martin Dalby, chief executive of Center Parcs, commented: “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”.