Coastfields Leisure has acquired 12 acres of new land for the expansion of its Skegness Fields Park after receiving a seven-figure loan from HSBC.
The acquisition of the new land will double the size of the newly-developed Skegness Fields Park.
This will create 105 static pitches and 15 touring pitchers.
Further funding was received from HSBC to diversify the business by building a food and leisure complex at the Grange Leisure Park in Mablethorpe.
The new facility will provide residents of Mablethorpe and surrounding areas with a wider choice of leisure, dining and entertainment options.
Coastfields expects the expansion of Skegness Fields and the creation of the new complex to help the business double its revenue and customer base within five years, enabling it to get one step closer to being the largest holiday village operator in the East of England.
Lloyd Silvester, director at Coastfields Leisure, said: “The domestic holiday market in the UK continues to grow.
“We are seeing continual demand for holiday services here in the Midlands.
“Expanding our Skegness Fields Park and developing a new food and leisure complex with HSBC’s support will enable us to meet the growing demand of holidaymakers looking to the East Coast for their beach breaks.”
Roger Pratt, HSBC’s Area Director for Corporate Banking in the East Midlands, said: “We began working with Coastfields in 2015 when they switched their banking facilities to HSBC. This funding provides the financial support to enable the business to meet increased customer demand and enhance the holiday experience for its visitors, helping Coastfields on the way to realising its ambition to be the largest operator in the East.”