British holiday firms facing Brexit boom over staycations
BRITISH holiday firms are facing a major Brexit boost as holidaymakers take advantage of the pound sparking a rise in staycations.
Brexit boost - Staycations are on the rise according to a new report
Last year Britain’s biggest holiday parks raked in £2.7billion with money savvy Brits set to make the most of the Brexit-hit pound to enjoy cheaper holidays across the UK.
The UK's 100 largest caravan, camping and holiday parks saw turnover climb nine per cent to £2.67 billion in 2016, up from £2.46 billion five years ago, according to research by Ortus Secured Finance.
With the fall in the pound against the euro and US dollar making foreign holidays more expensive, staycations have become more attractive.
Caravan, camping and holiday parks are going from strength to strength, combining value for money with high standard facilities to maximise the guest experience
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.”
Pound rallies after Bank of England's meeting
A flurry of private equity deals show British holiday park firms are thriving with robust growth and solid revenues catching the eye of investors.
In December, Canadian private equity firm Onex Corporation bought the UK’s largest caravan operator Parkdean Resorts for £1.35billion.
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.
Sterling's slump against the US dollar and the euro has made made holidaying at home more attractive
The Lake District is one of the most popular staycations
It comes as a survey found more than two-thirds of holidaymakers admitted they would skip a trip abroad for a short break in the UK.
The survey, commissioned by Go Outdoors, found the most popular staycations are Cornwall, Scotland, he Lake District, London and Wales.
More than eight in ten travellers said a holiday in the UK allowed them to have more fun and not feel exhausted when they got home.
Visit Britain predicts some 6.6million Britons chose to stay in the UK over Easter with just two million heading overseas.