SOUTHPORT, ENGLAND Pontins, a group of five holiday camps across the UK, has been acquired by Britannia Hotel Group, saving the company from bankruptcy.
The value of the transaction has not been disclosed.
Pontins went into administration in November, blaming the tough economic environment. Administrator KPMG says the Britannia sale is endorsed Pontins owner Alex Langsam. “We believe there is a growing demand for traditional seaside holidays and we are prepared to back this judgment with considerable investment,” Langsam tells Reuters.
Pontins resorts offer apartment-style accommodations in seaside destinations.
Altrincham, England-based Britannia ranks 155th on the 2010 edition of HOTELS’ 325, the annual listing of the world’s largest hotel companies.