Britannia Hotels rescues Pontin’s

  Britannia Hotels has bought holiday business Pontin’s from administrator KPMG.   Holiday park operator Pontin’s went into administration last November. It employs around 850 staff across five sites in Somerset, Sussex, Suffolk, Wales and Merseyside.   Rob Croxen, restructuring director at KPMG, said: “Concluding the sale of Pontin’s to Britannia as a going concern is a fantastic result. The business attracted a high level of interest from a broad range of investors, such as wealthy individuals, private equity houses, property developers and trade buyers. We are really pleased that Britannia, a leisure operator with a proven track record, has clinched the winning bid, ensuring Pontin’s lives on as a destination for holidaymakers. The deal will breathe new life into this cherished British brand.”   Alex Langsam of Britannia, added: “Pontin’s holds a treasured place in the hearts of many people, and it represents an important part of our shared heritage.The prospects for Pontin’s are very exciting. Our plans will take shape without delay as we look towards developing a bright future while retaining the best traditions of the past. Pontin’s will remain a national treasure, to be enjoyed by generations to come.”   samantha.mcclary@estatesgazette.com   To access all EGi news stories and commercial property data sign up for a free trial today, or visit the subscription options page to find out more.