The company behind Haven holiday parks and Warner Leisure Hotels has continued to record substantial losses throughout 2024, despite revenues climbing by nearly £100m.
Bourne Leisure, under the ownership of investment behemoth Blackstone, posted a pre-tax loss approaching £170m for its most recent financial year, following a £166.5m deficit in 2023, as reported by .
Nevertheless, fresh accounts lodged with Companies House reveal the Hertfordshire-based firm's turnover grew from £1.05bn to £1.14bn over the corresponding timeframe.
The average workforce at the Haven operator also expanded during 2024, rising from 12,765 to 13,338 employees.
The organisation divested Butlin's for £300m near the close of 2022 to the Harris family, who co-founded Bourne Leisure in 1964.
Investments hit Haven owner’s bottom line
The Haven proprietor disclosed that its capital expenditure reached £188.8m in 2024, following £217.9m spent in the previous year.
A board statement declared: "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 company stated: "The group maintained tight control over inflationary cost pressures particularly on utilities, food and labour costs, largely driven by the National Living Wage changes."
"The increase in EBITDA [Earnings Before Interest, Taxes, Depreciation and Amortisation] shows the strength of the business and its resilience during periods of economic uncertainty."
"With the successful deployment of the strategic initiatives in 2024 and this strong cost control the directors expect EBITDA to continue to increase during 2025."
In 2024, the group's EBITDA escalated from £239.7m to £261.3m.
