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Parkdean Resorts Sees Big Progress As Holidaymakers Seek UK Staycations

Parkdean Resorts, a North East holiday park company, has posted a 54% jump in revenues after continuing to invest against a backdrop of operational challenges over the last two years.

The Newcastle company, which owns and operates 66 holiday parks on 3,500 acres of land across the UK, saw adjusted revenues rise from £348.4 million to £537.4 million in the year ended December 31, 2021, according to a report.

The firm, which offers options including static caravans, lodges, glamping, and hotel accommodation at two sites, also converted the previous year’s operating loss of £18.8 million to a profit of £135.7 million. In comparison, adjusted Ebitda also almost trebled from £58.1 million to £144.7 million.

During the year, the Gosforth-based business made a record investment of £80 million into its parks, including further investment into its “Park of the Future” program to improve its food and drink offering as well as general facilities, children’s activities, and accommodation. 

Three existing parks were developed in the year, and the business has plans to carry out similar works at 36 additional parks. Across the estate, significant spending was made on park facilities and accommodation, Wi-Fi connectivity, and new pitch developments.

A focus on its website resulted in a shift towards online bookings, which now generate more than 85% of its holiday sales, and online revenues have increased by 90% since 2019. Parkdean has also committed to a 25% reduction in carbon emissions by 2025 and to achieving a net zero position by 2040.

“I am very proud of the Parkdean Resorts teams across the business, who have shown outstanding resilience in the face of some very difficult operational challenges over the last two years, never losing sight of the fact that our primary purpose is to ensure we create amazing memories for our holiday guests and owners,” said Parkdean Chief Executive Steve Richards in the accounts report.

“The group delivered a strong financial and operational performance this year despite the Covid-19 pandemic, building on the £189.1m investment in the business over the last three years, and driven by the dedication, enthusiasm, and hard work of our people.”

Following the report’s publication, Richards said 2021 was a year of significant progress for the company, witnessing high returns on capital investment in the quality of their accommodation and park facilities.

He added the progress also had further digitalization of their customer journey, resulting in 85% of their revenues now being booked online, with 83% of guests voting them great value for money and 78% stating they would return.

This article originally appeared on BusinessLive.

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Jax12RnD8x-75
Jax12RnD8x-75
March 14, 2024 10:31 pm

The company, offering various accommodation options, turned an £18.8 million operating loss into a £135.7 million profit, with adjusted Ebitda nearly tripling to £144.7 million. A record £80 million investment was made in park upgrades, including a focus on online bookings generating over 85% of sales. Plans include reducing carbon emissions by 25% by 2025. The CEO praised the team’s resilience amid challenges, aiming to create memorable experiences for guests.

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Hi, you might find this article from Modern Campground interesting: Parkdean Resorts Sees Big Progress As Holidaymakers Seek UK Staycations! This is the link: https://moderncampground.com/europe/united-kingdom/parkdean-resorts-sees-big-progress-as-holidaymakers-seek-uk-staycations/