UK HOLIDAY PARKS REACH £2.7BN TURNOVER
The combined revenue of the top 100 UK holiday parks has increased by 9% since 2011, and is expected to keep soaring due to the ongoing rise in staycations.
Last year, the UK largest camping, caravan and holiday parks reached a turnover of £2.67 billion altogether, a stark increase from the £2.46 billion figure five years earlier - according to research conducted by Ortus Secured Finance.
Staycations are becoming more and more popular amongst Brits as the recession and Brexit make the value of the pound weaken. This causes overseas travel to become significantly more expensive, which is why an increasing number of British holidaymakers are opting for cheaper escapades closer to home.
Ortus Secured Finance’s managing director, John Salisbury, said: “The recession and the ensuing trend for ‘staycations’ gave holiday parks, camping and caravan sites access to an even broader customer base, and they have been building on this ever since.”
This upward trend has resulted in vast amount of multi-million private equity deals being made, as investors have been quick to identify the lucrative potential in the industry.
Examples of this would be when Parkdean Resorts was sold for a jaw-dropping £1.35 billion to a Canadian private equity firm called Onex Corporation last December; last year’s £362 deal for the acquirement of Park Holidays by the hands of Intermediate Capital Group; and the sale of Park Leisure for £103 million to Midlothian Capital Partners.