Blackstone in talks to take on UK Butlin's owner Bourne Leisure

Private equity group Blackstone is in the talks to take over UK holiday resort and conference centre provider Butlin’s owner Bourne Leisure, The Times newspaper, London, has reported. The US-based investor is said to be keen to want to take advantage of the trend in staycations, which is likely in the first instance after the Covid-19 pandemic subsides before international travel resumes. The newspaper said talks were at an advanced stage, with Bourne Leisure valued at £3bn (US$4.06bn). Butlin’s, which has three sites across England in Bognor Regis, Skegness, and Minehead, has invested heavily in its conference and event offerings over the last few years and has become a popular destination for event organisers. Overall investment across the sites amounts to £200m. In 2019, Butlin’s reported that it has seen six consecutive years of growth, with 2018 seeing a 46% increase in enquiries, of which conversion to actual booking led to a rise of 8%. Blackstone took control of the NEC Group and its portfolio of Birmingham venues in 2018 for a reported sum of £800m.