Staycation Boom Leads to Sales Rise at PiperdamNeil Hardie
The owner of Piperdam Golf & Leisure Resort said it had benefitted from Brexit uncertainty as the staycation sector continued to grow.
Coppergreen Developments Limited, which purchased the Angus holiday park in a £25 million deal in 2016, saw a large jump in sales last year.
Newly published annual accounts show Coppergreen’s turnover increased from £7.6m in 2017 to £10.8m for the year ending December 31.
Earnings before interest, tax, depreciation and amortization increased from £1.8m to £2.5m. Pre-tax loss increased from £489,000 to £593,000.
The Sheffield-based firm also operates a holiday park at Woodland Lakes in Yorkshire and acquired Kenwick Park in Lincolnshire in July last year.
In her strategic report, company director Donna Copley said the results for the group were in line with expectations in a year of “great change”.
Last year Piperdam entered a partnership with Landal Greenparks, one of Europe’s biggest holiday park operators, in a bid to increase international sales.
Ms Copley said: “It is expected that Piperdam in 2019 will see the full benefit of this new branding and in addition to the domestic market Piperdam should also attract a larger number of European customers where the brand is better known.
“Early indications are that 2019 bookings are over 11% up on the first quarter of 2018.”
Coppergreen has invested millions growing the number of lodges at Piperdam since its acquisition.
An additional 14 lodges were added at Piperdam last year. The site is also adding a crazy golf course.
“This complete the current development phase for which funding was available,” Ms Copley added.
“There are still 26 undeveloped plots, which can be built on at a future date.”
The firm has started development work at Kenwick Park, with work under way to add 18 lodges and double the room capacity at the on-site hotel.
Ms Copley said her company had benefitted from a boom in staycations.
She added: “The market is still strong with continued growth in the staycation sector, particularly helped by the weak pound, Brexit and security concerns that have impacted on holidays overseas.
“While the uncertainty around Brexit can only lead to speculation on the impact it will have on the business, it is felt that there is a benefit for the continuing uncertainty of travelling abroad, while the weak pound makes us more attractive to overseas tourists.
“The only potential downside to the business is that during this period of very low unemployment, recruitment is still difficult.”
Blacklaw Estates Limited, which is also owned by Coppergreen, did not trade last year but still owns 350 acres of land adjoining the Piperdam site.