Blackstone plans sale of Haven holiday parks: Sky

Blackstone plans sale of Haven holiday parks: Sky

Blackstone, the private equity giant, is preparing to separate and sell off its controlling stake in Bourne Leisure's holiday parks and hotel chains, including Haven and Warner Leisure. According to Sky News, Blackstone is set to sanction the sale of Haven as early as next year, with a potential auction for Warner following any transaction involving Haven [1].

The company has already appointed standalone chief executives for each subsidiary, indicating a move towards operational and financial separation. Bourne Leisure, owned by Blackstone since 2021, attracted millions of visitors to its sites annually. The group previously owned Butlin's until 2022, when it was sold to the Harris family for approximately £300m. Since acquiring Bourne Leisure, Blackstone has invested over £550m in the portfolio of holiday parks and hotels [1].

Despite a record year in 2022 with a 13% increase in bookings and 3.6 million visitors, Haven reported a pre-tax loss of just over £166m in 2023. The company has not yet hired bankers to coordinate the sales of the two businesses [1].

Blackstone has declined to comment on the matter, leaving the details of the potential sale shrouded in uncertainty. The move signals a strategic shift for the private equity firm, which has been actively managing and investing in the portfolio of Bourne Leisure.

References:
[1] https://www.manxradio.com/news/uk-business/haven-and-warner-hotels-owner-plots-break-up-and-sale/
[2] https://www.mkfm.com/news/business/haven-and-warner-hotels-owner-plots-break-up-and-sale/