The Brittania Hotel Group has successfully acquired leisure group Pontin's as a going concern, after the group fell into administration in December.
Backed by owner Alex Langsam, Brittania has safeguarded 850 jobs and will now work on returning the failing leisure group to “its former glory”.
Langsam, who vyed against boutique property operator Bluebird Group for Pontins, said its future prospects were “very exciting”.
“Britannia brings 30 years of experience and a track record of success driven by a spirit of independence, enterprise and enthusiasm,” he said. “A hallmark of this success has been our willingness to adopt neglected properties and make the necessary investment to restore them to their former glory. We do it because we enjoy the challenge, because it matters and because we do it well.
“This is a formula that has given us a thriving and sustainable business over the years and we are thrilled to be given the opportunity to work the same magic with Pontin’s.
“We intend to build on all those things that have appealed to countless generations of visitors: family entertainment, wholesome fun and exceptional value. We believe there is a growing demand for traditional seaside holidays and we are prepared to back this judgement with considerable investment. Great news for jobs and the local economies.
“Our plans will take shape without delay as we look towards developing a bright future whilst retaining the best traditions of the past. Pontin’s will remain a national treasure, to be enjoyed by generations to come.”
Following Pontins’ administration last year, administrators at KPMG received a number of enquiries from private equity houses, property developers and wealthy individuals.
Rob Croxen, joint administrator at KPMG, said it was Brittania’s proven hospitality background that clinched the deal for them.
“(Brittania will) ensure Pontin’s lives on as a destination for holidaymakers. The deal will breathe new life into this cherished British brand.”
Pontin’s consists of five UK leisure parks in Southport, Prestatyn Sands, Brean Sands, Camber Sands and Paakefield.