Park Resorts, which has sites in North and East Yorkshire, has reinforced its position as one of the the UK’s leading holiday park operator by securing new lead shareholders; Electra Partners and appointing a new CEO.
The company has also refinanced its debt package and freed up significant capital to invest in its parks over the next four years.
Park Resorts employs over 2,500 staff during the peak holiday season and is headquartered in Hemel Hempstead.
It has 39 UK coastal holiday parks across England, Scotland and Wales. The company incorporates the holiday sales business as well as a highly successful and profitable caravan sales business.
David Vaughan has become Park Resorts’ chairman, following 12 years as founder and CEO.
David Boden joins the company as CEO, bringing with him over 30 years experience in the leisure industry having held senior board level positions at Rank Group Plc and Hippodrome Casinos Ltd
David Vaughan, chairman, Park Resorts, said:
“I’m handing the reins of a very successful business onto David at an exciting time.
“With new shareholders and new blood joining a very experienced management team, I am confident the next few years will be incredibly fruitful for all our staff, caravan owners and holiday customers.
“We have a significant amount of capital to invest in our parks and improve facilities for all our visitors which should really breathe further life into our company vision of ‘Creating Amazing Memories’ for all.”
Mr Boden said:
“To be taking over at such an exciting time for Park Resorts is incredible. Together with the experienced senior management team we will be ensuring Park Resorts’ future is dynamic.
“I and the rest of the team have a great passion for service excellence and we are committed to a bright future for our company and most importantly our holidaymakers and caravan owners.”
Park Resorts now has £60 million of capital available to invest in its holiday parks and ensuring its continued commitment to ‘Creating Amazing Memories’ for its customers.
The capital will be used to invest in accommodation and facilities at existing holiday parks.