Center Parcs records weekly revenues of €1.85 million

Center Parcs records weekly revenues of €1.85 million

Longford’s €365m Center Parcs holiday resort has this year recorded average weekly revenues of €1.85m as operating profits increased by 9% to €29.4m.

In another record year for the business, new accounts filed by Center Parcs Ireland Ltd show that revenues at the Co Longford resort rose by 10.6% from €87.4m to €96.7m in the 12 months to the end of April 18th this year.

Pre-tax profits declined by 51% from €19.8m to €9.7m due mainly to net finance expenses increasing by 170% from €7.2m to €19.5m this year.

The Center Parcs Irish business, which opened in 2019, achieved the increase in revenues and operating profits on the back of occupancy rates of 98.7%.

Next month, construction work is due to commence on a €100m expansion of the village near Ballymahon, with the addition of 198 lodges and luxury treehouses. This expansion will increase the resort’s capacity to around 3,500 guests.

The UK and Irish business achieved combined revenues of £704m this year on the back of 2.3m guests, with Longford Center Parcs contributing 12% of group revenues.

Numbers employed at the Longford Village resort this year increased by 68 from 1,233 to 1,301 as staff costs increased by 12% from €24.9m to €27.9m.

The operating profit of €27m this year takes account of non-cash depreciation costs of €7.9m.

Last year, Canadian owners of the Center Parcs resorts in Ireland and the UK, private equity group Brookfield unsuccessfully tried to sell off the business.