Bourne Leisure, the owner of Haven holiday parks and Warner Leisure Hotels, reported another year of losses in 2024 despite growing revenues and rising visitor numbers.
The Hertfordshire-based group, which is owned by investment firm Blackstone, posted a pre-tax loss of nearly £170 million for the financial year, compared with a £166.5 million loss in 2023. At the same time, turnover increased by almost £100 million, rising from £1.05 billion to £1.14 billion.
Employment figures also grew, with the company’s average workforce increasing from 12,765 in 2023 to 13,338 in 2024. Bourne Leisure sold Butlin’s to the Harris family for £300 million in late 2022, narrowing its focus on the Haven and Warner brands.
The company’s latest accounts show significant investment activity, with capital expenditure reaching £188.8 million in 2024, following £217.9 million the previous year. In a statement signed by the board, the group said:
“During 2024, we continued to deliver against a number of strategic initiatives across the business.”
”We improved our digital experience for our guests, owners, and teams, migrated a number of our legacy systems to the cloud, improved our revenue management capability, enhanced our guests and owner propositions across each brand, and constantly focused on cost reduction and mitigation against the highest levels of inflation we have seen for decades.”
The statement added that inflationary pressures were managed closely, particularly in utilities, food, and labor costs, with the latter largely affected by National Living Wage increases.
The group pointed to rising earnings as a sign of resilience. EBITDA grew from £239.7 million in 2023 to £261.3 million in 2024. The directors said they expect this upward trend to continue into 2025.
According to City AM, a company spokesperson described 2024 as “another record-breaking year,” noting: “Haven welcomed 3.6m guests – up 13 per cent year-on-year – and Warner continues to see exceptional demand for UK short breaks.”
The spokesperson added that Bourne Leisure will invest £140 million in Haven and £24 million in Warner in 2025 to upgrade facilities, expand capacity, and enhance guest offerings. Since 2021, the company has committed £780 million to investments across its portfolio.
For outdoor hospitality business owners, Bourne Leisure’s strategy highlights the industry-wide challenge of balancing heavy capital investment with profitability in the face of rising costs.
At the same time, the company’s emphasis on digital transformation, revenue management, and capacity expansion provides insight into how large operators are adapting to meet guest expectations while navigating economic pressures.
These approaches may offer lessons for smaller operators considering technology upgrades, efficiency improvements, and phased investment strategies in a competitive market.