Despite altering its pricing strategy, Butlin's holiday resort chain has reported a pre-tax loss of £24.4m for 2023, following its sale for £300m. The company's latest accounts filed with Companies House reveal this downturn, which contrasts with the pre-tax profit of £61.2m it posted in 2022.
The accounts also indicate a slight increase in turnover from £290.4m to £292.7m over the year. Due to its financial performance, Butlin's did not issue a dividend for the year, having previously paid out £91.2m in 2022, as reported by .
The Harris family, co-founders of Bourne Leisure in 1964, purchased Butlin's for £300m towards the end of 2022. A statement approved by the board said: "Demand for holidays within the 海角视频 has remained strong in the year which has seen the company perform well and return a strong trading performance."
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It added that turnover increased by one per cent due to strategies implemented from 2022, including adding additional family showtime breaks and big weekenders in the off-peak seasons when the sites would otherwise have been closed, increasing the number of guest weeks sold.
This was coupled with the introduction of a new pricing strategy which moved away from last minute discounting, increasing occupancy and net average tariff achieved.
In September, City AM revealed that Bourne Leisure, the group behind Haven holiday parks and Warner Leisure Hotels, suffered a loss following the sale of Butlin's. The company, owned by investment behemoth Blackstone, reported a pre-tax loss of £166.5m for 2023, a stark contrast to the pre-tax profit of £64.9m it posted in 2022.
The Hertfordshire-based group saw its turnover drop from £1.1bn to just over £1bn in 2023. However, separate accounts showed that Haven itself saw an increase in turnover from £744.4m to £814.4m in 2023, with its pre-tax profit also rising from £108.5m to £115.1m.