Center Parcs put up for sale - report

UK holiday resort group Center Parcs has been put up for sale by its Canadian owners, it was reported on Monday.

According to the Financial Times, private equity group Brookfield has appointed investment banks to sound out potential buyers. Citing unnamed people familiar with the matter, the FT said Brookfield was seeking between £4bn and £5bn for the business, which has five holiday villages in the UK and one in Ireland.

Brookfield acquired Center Parcs from US private equity firm Blackstone in 2015 for £2.4bn. Since then, it has upgraded facilities, including 250 new lodges, and spent £100m upgrading IT and booking systems.

The leisure sector has been enjoying a post-pandemic boom, as consumers take holidays once again following after the lifting of lockdowns and other Covid-19 restrictions. According to Brookfield’s website, Centre Parcs currently has around 2m guests per year with a 98% occupancy rate and “stable cash flows”.

Brookfield declined to comment on the report.