Staycation frenzy sparks £600m merger of Away Resorts and rival Aria


The staycation frenzy gripping Britain’s tourism industry is spurring a £600m merger of two of the country’s biggest holiday park operators.

Sky News has learnt that Away Resorts is buying rival Aria Resorts, which operates 14 sites across the UK, in a deal that could be confirmed as soon as Wednesday.

Sources said that Away, which was recently acquired by CVC Capital Partners, had agreed to buy Aria from the investment firm Angelo Gordon.

Brighton beach
Many holidaymakers have abandoned breaks abroad for a UK destination

Aria operates popular resorts such as Retallack Resort & Spa in Cornwall and The Bay Colwell on The Isle of Wight.

The deal will bring Aria under the leadership of Away’s management team, which is led by the chairman, Rooney Anand, and chief executive Carl Castledine.

One industry commentator said the combination was likely to double Away’s earnings as well as its size as measured by number of resorts.

It is the latest example of a glut of dealmaking in the sector, with Butlins’ owner, Bourne Leisure, having been sold to Blackstone several months ago in a multibillion pound deal.

More from Business

Other operators, including Park Holidays and Park Leisure, are also expected to put themselves up for sale in the coming months.

Britain is in the middle of a staycation boom as uncertainty over overseas travel restrictions prompts many holidaymakers to abandon plans for foreign trips.

Neither CVC nor Aria could be reached for comment.

Articles You May Like

Migration policy to ‘seal off all loopholes’ as officials work towards deportation flights ‘by summer’
Amazon to lay off 9,000 more workers in addition to earlier cuts
Ukrainian sniper shares what it’s like fighting enemies on the frontline
Nicola Sturgeon’s husband quits as SNP chief executive in face of no confidence threat
Bank of England raises interest rate but no longer expects UK recession this year