Of his daughter, John added: "She touched so many lives".
"John and his wife Carol ask that the privacy of their family be respected at this traumatic time".
The couple drove from their North London home the 130 miles to the scene in Dorset and although they were initially refused entry, a search carried out in the woods found Louella's body.
Detective Chief Inspector Sarah Derbyshire said: "Inquiries are now under way to establish how she died".
But releasing a statement following the bad news, John has dismissed murder claims, insisting his daughter's death was a "tragic accident".
In a statement, Bestival organisers said the team were "devastated" by news of Louella's death, saying: "We continue to support the police in their ongoing investigation and our thoughts and prayers are with all the woman's family and friends".
They continued to say that when Louella's body was found "she was fully clothed" and that a man was then "taken away and was speaking to the police".
"We are working closely with the festival organisers". It is understood that the man in question had contacted Louella's family after she went missing at the festival.
A cordon has been set up while forensic examinations are carried out.
A spokesman for the event said the matter was now being dealt with by Dorset Police.
Tributes have since poured in for John - who played Karl Munro in Corrie - and his family after news of the young woman's death broke.
The line-up this year included The XX, Dizzee Rascal, Rag'n'Bone Man, Pet Shop Boys, Wiley and Laura Mvula.
Bestival Police last week issued a warning about a rogue batch of tablets found on the festival site. This is the first year it has been held in Dorset, after being moved from its original location on the Isle of Wight.
The 2017 event, which featured a giant Kanye West head and a bouncy castle large enough for 100 people, was expected to attract around 30,000 festival-goers.
The festival site was temporarily evacuated on Sunday due to high winds.