A holiday park operator is looking to more than double the size of its business in the next six years after receiving almost £30 million in funding.
Park Leisure, which has its head office at York Business Park, has secured a funding package of £29.5 million from the Royal Bank of Scotland (RBS).
Founded in Scarborough in 1998, Park Leisure is celebrating 15 years in business, over which time the group has grown to include eight owner exclusive caravan and holiday parks.
The funding deal, in which RBS becomes sole banking partner to the business, has been secured as Park Leisure looks to continue its acquisitive growth strategy, with plans to open two new parks in the next three months.
Grant Gidman, head of marketing at Park Leisure, said: “We have currently got eight parks and that will increase to ten in the next two to three months. The vision then is to continue growth organically to 20 parks by 2020.
“The two new parks we are opening are in the Yorkshire Dales and further south in Worcestershire. We have also identified other areas we want to grow into.”
Park Leisure, which employs 200 people, will be looking to grow its workforce by more than 30 with the additional two new parks, with its head office in York also set to expand as the business works towards a portfolio of 20 parks.
Mike Allen, relationship director at RBS, said: “We have been impressed from day one with Park Leisure’s ethos for excellence and also their desire for measured growth and ongoing investment in their parks as reflected in their five-star status.
“We are delighted to be able to support the growth of one of the UK’s leading holiday home park operators and we are excited about being a part of this highly successful business as it continues to progress.”