After completing a £1.5bn commercial mortgage-backed securities transaction, private equity giant Blackstone has confirmed it will inject £140m into its Haven holiday parks brand, with upgrades to facilities, entertainment, and booking systems all on the cards for this year.
Haven has announced it is to invest £140m across its UK estate this year, after private equity owner Blackstone completed a £1.5bn commercial mortgage-backed securities transaction.
The project will deliver more than 300 new pitches and several branded F&B openings, such as new JD Wetherspoon pubs at key locations, as well as facilitating an upgrade to digital booking systems.
“We’re investing significant capital to give guests more of what they love – more familiar brands, more and better facilities, more choice of holiday homes,” said CEO Simon Palethorpe.
The investment comes after Haven reported a record 3.7 million guests had visited its parks so far this year, with Easter holiday sales alone up more than 25 percent.
The positive trajectory allowed Blackstone to complete the CMBS earlier this month, which Bloomberg reported is “the largest ever pound-denominated commercial mortgage security since the 2008 financial crisis,” and accounts for “about half of a broader refinancing package for Haven.”
Blackstone acquired Haven owner Bourne Leisure in 2021, and has since spent £660m upgrading the brand’s 39 parks, however this latest programme represents a significant endorsement of the UK holiday park sector’s continued growth.
During a visit to the new £10m swimming complex at Haven Kent Coast on 4 August, chancellor Rachel Reeves also hailed the investment as “a vote of confidence in the British economy and its tourism industry.”
“Millions of visitors a year will benefit from this new investment and the improved facilities, and it will be an added boost to our economy.”
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Simon Palethorpe said… “We’re investing significant capital to give guests more of what they love – more familiar brands, more and better facilities, more choice of holiday homes…
