Center Parcs will invest £40 million into its four UK holiday villages after securing funding from owner Sun Capital.

The landlord is investing £28m, while the remaining £12m will be stumped up by Center Parcs itself.

The cash will fund various projects at each site including building new accommodation, converting standard villas to more up-market executive versions, and adding new central facilities and concepts.

Revamping restaurants is listed as a priority.

Chief executive Martin Dalby said: “We now have in place the funding for core business expansion over the next three years on investments that will both enrich our product and yield high returns.”

Center Parcs is searching for a fifth site, having last month announced annual profits of £24.4m - largely based on maintaining occupancy levels at above 90 per cent.

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