UK holiday park firms rake in £2.7bn as staycations popularity rises
Britain's biggest holiday parks raked in £2.7 billion last year and are in line for a further boost as the Brexit-hit pound inspires a rise in staycations , a report said.
The UK's 100 largest caravan, camping and holiday parks saw turnover climb 9% to £2.67 billion in 2016, up from £2.46 billion five years ago, according to research by Ortus Secured Finance.
Staycations have taken on a broader appeal since the recession as a cheaper alternative to an overseas holiday.
Sterling's slump against the US dollar and the euro since the EU referendum vote has also made holidaying at home more attractive, as the pound's weakness bumps up the cost of foreign travel.
John Salisbury, Ortus managing director, said: "Caravan, camping and holiday parks are going from strength to strength, combining value for money with high standard facilities to maximise the guest experience.
"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."
Britain's holiday park firms have become the subject of a flurry of private equity deals, with robust growth and solid revenues catching the eye of investors.
Activity has included the £1.35 billion sale of Parkdean Resorts, the UK's largest caravan operator, to Canadian private equity firm Onex Corporation in December.
Park Leisure was snapped up for £103 million by a consortium led by Midlothian Capital Partners, while Intermediate Capital Group bought Park Holidays for £362 million last year.