The Financial Times reports Blackstone is considering a sale or initial public offering of Center Parcs that could value the company at more than £2bn.
The FT claims several rival private equity firms and trade buyers have expressed interest in the business, ‘according to people familiar with the group’.
However, the same people added that Blackstone was reluctant to sell Center Parcs’ portfolio of four UK holiday villages before it had finished building a fifth site in Woburn early next year.
Center Parcs generated earnings before interest, taxes, depreciation and amortisation (EBITDA) of £131m according to its latest sets of accounts, but the addition of a fifth resort could boost that to £165m-£200m, the FT said.
The possibility of an exit from Center Parcs comes amid the sale by Blackstone of a number of its assets following the recent recovery in global commercial property values.
The group is planning public market exits for Hilton Worldwide and mid-price lodging chain Extended Stay America, and an IPO or potential sale of La Quinta Inns & Suites.
It is also selling a series of office developments in London, including its half stake in the Broadgate estate in the City for $2.7bn.
Blackstone acquired the operating and property businesses of Center Parcs in consecutive deals in 2006 for a total of £1.1bn.