Parkdean Resorts is pleased to report progress for the year ending 31 December 2019. Revenue up 5% and EBITDA increased 7%, £80m investment plans for 2020.
Parkdean Resorts is pleased to report progress for the year ending 31 December 2019
- - L4L Revenue growth up by 5% to £453.2m (2018: £432.2m)- Adjusted Group EBITDA* increased to £103.7m (2018: £96.6m)
Growth driven across all income streams:Holiday packages sold increase by 6% year on year;
- - PDR sold 599,000 holidays of which 80% were short stay (less than 4 days) playing to the increasing trend for UK staycations- NPS score of 67% indicating excellent customer satisfaction and loyalty
On-park spend revenue grew by 6% year on year
- - The business operates multiple; shops, concessions, restaurants, bars and arcades as well as swimming pools, gyms and other leisure facilities.
Owner Income; stable above inflation growth
- - Of the businesses 31,000 pitches 20,000 have been licenced to owners to place their caravan, lodge or chalet upon.
Holiday home sales; volumes increased by 4% on the back of a strong H2.
- - The business will sell approximately 4,300 caravans and lodges priced from £25,000 for an entry level caravan to £600,000 for a premium lodge, and everything in between.
A new senior management team now in place with the appointment of Catherine Lynn (CCO), John McKenzie (MD Holiday Homes), Mos Shamel (COO), David Lodge (Property Director) and Lisa Charles-Jones as HRD.The Group has an unrepeatable real estate footprint with multiple opportunities to develop further and invest via a self-funded strategy which will see a doubling of investment into the business in 2020.The strategy will deliver holiday parks that provide ‘inter-generational ‘family fun and freedom’ for its holiday homeowners and holiday guests;£80m to be invested in 2020 (2019: £42m) in a pilot ‘parks of the future’ initiative in four locations to create state-of-the-art amenities including accommodation, park facilities and kids’ activity-based entertainment such as the Bear Grylls Survival AcademyMajor tech and infrastructure projects which include new pitches, an enhanced retail offer and digital capability improvements - including the provision of free high speed Wi-Fi across the whole estate.Growth opportunities identified including extending the holiday season, improving occupancy in off-peak periods and further upgrading the Company’s full range of accommodation. The Group also plans to invest to extend and improve its on-park facilities, particularly the availability of paid-for family friendly activities.
Steve Richards, Chief Executive of Parkdean Resorts, said:
“Much progress has been made over the last year and it is fair reward for the passion and unrelenting desire our teams bring in delivering great holiday experiences for our customers.
“The momentum achieved in 2019 has continued into the current year which has started strongly with 32% of summer capacity already sold as we take share in what is a growing and resilient market.”