This paper presents a stabilizing tube-based MPC synthesis for LPV systems. We employ terminal constraint sets which are required to be controlled periodically contractive. Periodically (or finite step) contractive sets are easier to compute and can be of lower complexity than "true" contractive ones, lowering the required computational effort both off-line and on-line. Under certain assumptions on the tube parameterization, recursive feasibility of the scheme is proven. Subsequently, asymptotic stability of the origin is guaranteed through the construction of a suitable terminal cost based on a novel Lyapunov-like metric for compact convex sets containing the origin. A periodic variant on the well-known homothetic tube parameterization that satisfies the necessary assumptions and yields a tractable LPV MPC algorithm is derived. The resulting MPC algorithm requires the on-line solution of a single linear program with linear complexity in the prediction horizon. The properties of the approach are demonstrated by a numerical example. (C) 2017 Elsevier Ltd. All rights reserved.