Fifth village contributes to improved Center Parcs trading

Fifth village contributes to improved Center Parcs trading

Center Parcs saw revenues rise by 18.3% to £91 million in the first quarter following the opening of a new holiday village in Woburn Forest last year.

The company, which was sold in June to Brookfield Property Partners for £2.4 billion, said the addition of the fifth village had also helped to boost underlying earnings by 20.3% to £42.1 million in the 12 weeks to July 16.

Trading at its four established resorts was more modest, with revenues in the quarter up 1.7% to £73 million, and earnings ahead by only 0.3% to £33.1 million, the Times reported from a company investor presentation.

Occupancy in the four villages declined slightly, from 97.4% to 96.8%.

The Woburn site, which by comparison was open for only four weeks of last year’s first quarter, achieved a rate premium of 20.7% to the other villages, with average onsite spend per guest 18.7% higher, although the group insisted that its established sites had maintained a strong underlying performance.

Woburn Forest, which opened in June last year after a £250 million investment, achieved underlying earnings of £39.5 million in the year to July 16, lifting total earnings [EBTIDA] for the group to £187.3 million.

It said that Woburn was “performing well and in line with expectations”.

The group, which is planning capital investment of £45 million across its estate this year, said that its forward bookings for the coming year were strong, with occupancy ahead of last year.

Its four older sites were 67.8% booked, up from 63.4% this time last year, while Woburn was 63.2% booked.

Center Parcs plans to introduce Wi-Fi at its resorts at Longleat, Sherwood Forest and Whinfell, and revealed plans for an upgrade of its online and digital capabilities.


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