ADELPHI Hotel owner Britannia Hotels is reportedly favourite to acquire Southport-based Pontin’s out of administration.
There are 10 bidders for the holiday park operator, including previous owner Graham Parr, which went into administration in November.
KPMG, the administrators, announced last week that the level of secured credit debt was £44m and the level of unsecured debt stood at £3.6m.
Pontin’s operates from five UK sites including Ainsdale, near Southport, and Prestatyn, in North Wales.
Up to 60 potential buyers had been jockeying for a slice of the business. But that number has now been whittled down, and rival operator Butlin’s, which had shown an interest, is not thought to be among the final 10.
Cheshire-based Britannia Hotels, whose 36 properties also include The Prince of Wales Hotel, in Southport, has annual revenues of £52m.
However its most recent accounts, for the year to March, 2010, showed the group made a pre-tax loss of £6.44m.
