The number of most serious water pollution incidents rose by 60% last year, according to data covering England, with three companies responsible for the bulk of them.
The company behind the Haven holiday parks and Warner Leisure hotel chains is plotting a break-up that will trigger separate auctions of the businesses.
Sky News has learnt that Blackstone, the private equity behemoth which owns a controlling stake in Bourne Leisure, is preparing to sanction a sale of Haven as early as next year.
A disposal of Warner would then follow any transaction involving its sister business, according to people close to the situation.
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The group, which has already installed standalone chief executives at the two subsidiaries, is now focused on further operational and financial separation, they added.
Bourne Leisure, which has been owned by Blackstone since 2021, draws millions of visitors to its sites each year.
The group also owned Butlin's until 2022, before the holiday parks business was sold to the group's co-founders, the Harris family, in a deal worth about £300m.
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Serious water pollution incidents in England up 60% last year - with three companies blamed for most
Since buying the business, Blackstone has invested more than £550m in the portfolio of holiday parks and hotels.
Last year is said to have been a record one for Haven, with bookings up 13% and 3.6 million visitors.
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Accounts for 2023 show, however, that Bourne Leisure made a pre-tax loss of just over £166m.
Bankers have yet to be hired to coordinate sales of the two businesses, according to people close to the company.
Blackstone declined to comment.
