(Reuters) -British resort chain Butlin’s, which is owned by Blackstone (NYSE:), is expected to be put up for sale next year as many Britons opt for staycations as a result of the COVID-19 pandemic, Sky News reported https://news.sky.com/story/holiday-camp-chain-butlins-to-be-put-up-for-sale-as-staycations-boom-12480059 on Saturday.
U.S. private equity group Blackstone has picked investment bank Rothschild to conduct an auction of the holiday camp group, the Sky News report added.
Founded more than eight decades ago, Butlin’s offers seaside holidays at resorts in Bognor Regis, Minehead and Skegness.
Bourne Leisure, Butlin’s parent company and one of Britain’s biggest holiday providers, was bought by Blackstone this year.
Blackstone and Bourne Leisure declined to comment.
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