BILLING Aquadrome and Cogenhoe Mill holiday parks are among five to have been acquired in a landmark deal by a newly formed resort operator.
Meadow Bay Villages has also completed the purchase of Golden Leas and Hollybush Farm Holiday Parks on the Isle of Sheppey and Hayling Island Holiday Park in Hampshire.
The deal, for an undisclosed sum, brings the five parks out of administration 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 are a first step in Meadow Bay Villages’ plans for long-term growth across the UK.
The new company is led by chief executive Geoffrey Smith, who brings more than 30 years of management experience at leisure companies Bourne Leisure and Cove UK, and is backed by institutional investors. It is recruiting a new executive team and will liaise on its plans with staff and homeowners at the five parks.
Mr Smith said: “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.”
Meadow Bay Villages is backed by “committed” investors, he added.
“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. 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.”