Hotel Group Favourite To Acquire Pontin’s

Regional hotel group Britannia is understood to be the favourite to acquire Pontin’s.

The Cheshire-based hotelier owns properties in several seaside resorts and is part of a list of around 10 interested parties, including Richardson Group, a private property investor and Indian millionaire investor Bhanu Choudhrie, according to a report in the Sunday Times.

Other leisure operators are also thought to have expressed an interest, as well as Graham Parr, the previous owner of Pontin’s, who is involved with a consortium which is trying to buy back the firm, the newspaper said.

Last week, administrator KPMG confirmed that it had received 10 offers for the business.

Rob Croxen, joint administrator and KPMG restructuring director said most had come from parties “keen to continue operating the business as a going concern and take the brand forward”.

He added that negotiations remained ongoing, but that he was “confident of being able to conclude a sale in the near future”.

Reference: Travel Weekly 10th January 2011


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