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John Waterworth to head up combined Parkdean/Park Resorts business

John Waterworth, the boss of Parkdean, is to become chief executive of the combined Parkdean/Park Resorts UK holiday parks business.

David Boden, chief executive of Park Resorts, will retire from the company.

Waterworth will take over on completion of the merger, which is subject to clearance by the Competition and Markets Authority and the Financial Conduct Authority.

The combined venture will have 7,000 staff over 73 parks, with 1.8 million customers on 400,000 holidays a year.

Both head offices in Newcastle and Hemel Hempstead will be retained.

Waterworth has led Parkdean since its foundation in November 1999 with the acquisition of Trecco Bay, Porthcawl, the UK’s largest holiday park, and led its listing on AIM in 2002.

Parkdean now operates 24 parks and had turnover of £142 million and earnings [EBITDA] of £33.7 million for the year ended January 31, 2015.

The combined business will generate EBITDA of more than £100 million.

Boden said: “I am delighted that John is taking on the combined business as I have decided that now is the logical time for me to step back and retire from the business.

“I have known John for a long time and he is the right person to take the enlarged group forward. I look forward to watching the combined business grow and prosper.”

Waterworth said: “It is a privilege and an honour to be appointed to lead the combined group which will be the foremost holiday park company in the UK.

“I am excited about the future and working with both teams. There are really talented people that thrive on giving customers the best experience and they will have the benefit of opportunities created by the enlarged group.

“Its 73 parks will span all points of the UK compass: from Scotland to the south coast and from Norfolk to Cornwall and will be the first ever truly national business.

“David has done a brilliant job in growing Park Resorts into the excellent business it is today and one that I will be proud to take on its next stage of its development.”

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