Following news that the British holiday institution goes into administration, Indian entrepreneur and Dubai royal family may be new buyers
Among the big travel news this week has been the announcement that Pontins has gone into administration. Administrators KPMG who took over the sale of its five holiday parks in the UK last Friday say they have had a lot of interest from various parties.
In what will no doubt be a week of talks, one of those who have expressed an interest is believed to be Indian millionaire Bhanu Choudhrie who heads up C&C Alpha Group. According to reports he has said he is prepared to pay up to £15 million for the British institution and would be a co-buyer with the Dubai royal family.
The news follows another announcement just days ago that London’s most iconic hotel, The Savoy, has been sold to an Arabic buyer, and another historic de luxe hotel, Claridges, may also go to an Arab investor.
A spokeswoman for administrators KPMG says the company has not spoken directly with Choudhrie and the Dubai royal family, but that "they are definitely people we would like to be talking to."
Choudrie told the Mail on Sunday he would keep the management of Pontin’s in place as it already is, and expand the business, which is good news for the 850 employees at Pontin’s resorts who look likely to keep their jobs.
Pontins went into administration last Friday after Santander Bank, which had loaned the business £46 million, called it a day.
KPMG confirmed today that all Pontin’s holiday parks would remain open and that clients would not lose out on their bookings. The administrator is looking for an experienced resort operator with knowledge of holiday parks to run the five UK resorts while KPMG negotiates with potential buyers.