Center Parcs, the renowned holiday park operator, has reported a significant drop in pre-tax profit as "lower levels of disposable income" impacted consumer spending, according to recent documents filed.
The company's 海角视频 and Ireland division saw revenue climb to just over £704m for the 12 months leading up to April 18, 2024, an increase from £669m in the preceding year.
Out of this revenue, accommodation purchases accounted for £417.9m, while on-site spending contributed £286.2m.
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Despite the uptick in revenue, the group's pre-tax profit experienced an 18.7 per cent decline, falling to £98.4m from the previous year's £121m.
Earnings before interest, tax, depreciation, and amortisation (EBITDA) improved marginally by 1.9 per cent to £310.5 million, compared to £304.6 million in 2023, as reported by .
With an impressive 97 per cent occupancy rate throughout the year and 2.3 million guests hosted, Center Parcs underscored its operational success.
Colin McKinlay, CEO of Center Parcs, commented in a Companies House statement: "During the year to 18 April 2024, the entire Center Parcs team have worked tirelessly to deliver a fantastic set of results."
He further highlighted the company's achievements, stating: "The group delivered its highest ever EBITDA and guest satisfaction scores in its 37 years of operation."
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McKinlay attributed these outstanding results to "These fantastic results were delivered by our continued investment in our people, our environment and our facilities, and our constant innovation over the years."
Looking ahead, Center Parcs is eyeing expansion within the 海角视频, particularly seeking a new location in the southeast of England. This comes after the company had to scrap its plans for a new holiday village near Gatwick Airport due to environmental concerns last July.
The firm had secured the option to acquire the woodland site back in July 2021, with ambitions to pour an investment of £350m-£400m into a development encompassing 900 lodges.
However, Center Parcs retracted its plans for the new village in February after deeming the 553-acre West Sussex site "not a suitable location for a Center Parcs village" post environmental and ecological surveys.
CPRE Sussex was among the vocal opponents, labelling the project as "inexcusable vandalism" of the ancient woods. Brookfield, the Canadian company that acquired Center Parcs for upwards of £2.4 billion in 2015, aimed to leverage the site to accelerate growth and enhance its appeal to prospective buyers.
Despite this hurdle, the group pushed ahead with plans for an auction valued at more than £4bn. Yet, Brookfield ultimately withdrew from the sale in November of the previous year, citing unfavourable market conditions.