Park Resorts are a nation-wide and widely-recognised brand in the UK, specialising in providing and hiring out caravan parks, with 41 locations spanning across 2,400 acres in the UK. Known for their parks near the sea-side, the resorts are primarily located on the south and east coasts of England, with a few locations also in Scotland, Wales, and the Isle of Wight. The resorts see over 760,000 rental guests at their parks every year!
Based in Hemel Hempstead and employing just under 1,800 people, Park Resorts are a multi-million pound turnover business and have gone from strength to strength in the 13 years since they were established by private equity firm CBPE.
As you’d expect with a large national company such as this, the costs of maintaining and upgrading their many holiday parks are immense. One of the fixed features of each holiday park is coffee-making facilites. As we know, with all catering facilities, they need periodic upgrading to ensure that the equipment is up-to-date and provides the best overall experience available.
Park Resorts recognise this also, which is why earlier this year they decided to upgrade all the old coffee facilities at their resorts with 38 new Franke Evolution coffee machines, provided by Brakes Catering Equipment.
Realising the benefits of acquiring these machines with leasing, rather than outright purchase, Park Resorts asked Brakes to recommend a broker and Brakes kindly recommended us for the job.
By using our leasing deal instead of outright purchase, Park Resorts will be able to take advantage of the inherent tax benefits that come along with shifting the cost of these machines into their operational expenditure budget.
They will also benefit from the assurance of a leasing contract’s fixed duration and fixed payment terms, allowing them to know exactly when and how much they will need to pay over the duration of the deal. This means they can invest their capital in other more-profitable areas in the short term.
We’re very excited to see such a large deal reach completion and some of our more sun-seeking members of staff are looking forward to trying out the new coffee machines when (or if) the summer sun arrives!
