Five hugely popular English holiday parks have been acquired in a landmark deal by a newly formed resort operator led by experienced industry operators.
Meadow Bay Villages, a new name in holiday and residential parks, has purchased Billing Aquadrome and Cogenhoe Mill Holiday Parks (both in Northampton), Golden Leas and Hollybush Farm Holiday Parks on the Isle of Sheppey and Hayling Island Holiday Park in Hampshire.
Led by Meadow Bay Villages CEO Geoffrey Smith – an industry leader with more than 30 years of management experience at Bourne Leisure and Cove UK – the deal transitions the five parks from administration for an undisclosed sum ahead of a planned programme of investment in the properties.
The resorts have a combined total of more than 2,600 occupied pitches, with significant potential to develop further, and represents a first step in Meadow Bay Villages’ plans for long-term growth across the UK.
The new company is backed by long-term, sector-committed institutional investors and has already begun building a skilled executive team under Mr Smith’s leadership. Meadow Bay Village management will soon be engaging with staff and homeowners at the five parks as the company aims to enhance the experience at the resorts.
Geoffrey Smith, Chief Executive Officer of Meadow Bay Villages, said:
“We are thrilled with the acquisition of the five resorts to kickstart the Meadow Bay Villages brand.
“The opportunity to engage with team members, owners and holidaymakers and offer a best-in-class experience is something we relish, and we are already thinking about exciting plans for further investment and development at these already great locations.
“We recognise that there has been some uncertainty at the parks in recent months despite their immense appeal with holidaymakers and owners over many decades. With a renewed vision and dedicated leadership, we are confident that we can herald a fresh start for each resort and build on their existing popularity. Delivering value to customers through an engaging and reliable service is at the heart of our proposition and we are certain this will appeal to existing and new holidaymakers.
“Meadow Bay Villages is backed by committed investors and is already building a leadership team that has a blend of expertise and knowledge from across the holiday and residential park sector. We want to grow in the coming months and years but our first step is to bring great success to the five resorts we have newly acquired.”
