Center Parcs’ profits soar to £70.5 million

Center Parcs’ profits soar to £70.5 million

Center Parcs UK has reportedly seen profits soar on the back of average annual occupancy rates of more than 97%.

Sales for the 12 months to April 20 grew to £440 million from £420 million a year earlier.

The previous year’s pre-tax loss of £6 million – caused by one-off financing costs – was turned into a pre-tax profit of £70.5 million, according to annual accounts quoted by the Mail on Sunday.

The short breaks business runs five holiday villages in the UK attracting more than 2.2 million guests a year.

Center Parcs is building its first village in Ireland, Longford Forest near Ballymahon in County Longford, at a cost of more than £200 million.

The new site, which is due to open in 2019, will employ up to 1,000 staff and cater for 2,500 holidaymakers.

Center Parcs UK was acquired by Canada’s Brookfield Property Partners from private equity giant Blackstone two years ago.

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