There are currently four Center Parcs holiday villages in the UK, but the holiday company have recently announced that they are going to start constructing a fifth site at a cost of £250 million.
It is expected that the site is going to create 1500 jobs for the local area, and is also going to create 1200 jobs during its construction period.
Blackstone is the private equity company that owns Center Parcs and they recently made the announcement that the development is going to take place in Bedfordshire. Furthermore, the private equity company said that this will provide a significant boost to the ailing UK economy.
The location is going to be financed partly by cash from Blackstone, and partly by a bank loan. £150 million is going to be raised from four major banks; RBS, Lloyds, HSBC and Barclays. The development is set to open in two years and it is expected that most of the staff are going to be sourced from around Bedfordshire.
David Cameron has commented, “Center Parcs is a very popular holiday destination for domestic holidaymakers and this is fantastic news not just for these people, but also for our economy. The jobs it is going to create are going to provide a boost to the area, as well as encourage investment in Bedfordshire.”
The construction work is going to be starting in the next few months and it is widely regarded to be one of the largest construction projects to have begun in Britain in the last few years.
While many companies have been suffering because of the economic recession, Centre Parcs have done well, as many people are choosing to holiday in the UK, rather than enjoying a more expensive trip abroad. In April 2011 the company recorded a profit of nearly £30 million which was a 17 percent increase on the previous year.
Furthermore, its parks have been enjoying occupancy rates of nearly 97 percent. The new development is going to have a 75 bed hotel as well as 625 lodges. There are going to be numerous sporting facilities and many restaurants.