Losses widen at Haven rival Parkdean amid ‘challenging backdrop’
Holiday park operator Parkdean lost almost £150m during its latest financial year despite its revenue increasing over the same period, it has been confirmed.
The business, which is a direct rival of Haven and is headquartered near Newcastle upon Tyne, has reported a pre-tax loss of £147.7m for 2024.
The latest total comes after it also lost £135.2m in 2023.
New accounts filed with Companies House, however, also show Parkdean’s revenue rose from £507m to £520m in 2024.
The results come after it was reported earlier this month that Parkdean is lining up American investment firm Centerbridge Partners to inject around £250m of funding.
Parkdean ‘well placed’ after investment
On its future, Parkdean said: “With recovery of the macroeconomic environment proving slower than had been anticipated, 2024 saw a flat market for holiday sales and a challenging backdrop for holiday home sales.
“However, in 2025, having traded out peak sales period we are pleased to have seen a strengthening in both revenue and profit contribution across holiday sales, holiday home sales and on park spend.
“After an increase in owner churn during the second half of 2024, we have seen good growth in our owner base through 2025 with pitch fee income back in growth since the start of the second half of 2025.
“While discretionary incomes are improving for our core customer groups, consumer confidence remains below historic norms.
“We continue to take steps to reduce our cost base and deliver operating efficiencies on park and in our central functions.
“The business is well placed, following years of investment in the estate, the brand and our people, to benefit from the improved trading delivered thus far in 2025.”
Parkdean is owned by Canadian investment management firm Onex Corporation, which was founded by billionaire Gerry Schwartz.
Group pledges to create hundreds of jobs
A spokesperson for Parkdean Resorts said: “2024 saw the business deliver robust revenue and EBITDA growth despite significant market and macro cost headwinds with revenue up £13m to £520m, and adjusted EBITDA increasing to £72m.
“Encouragingly, 2025 has seen the staycation market strengthen, and Parkdean’s well-invested Parks, in holiday hotspots, have been able to capitalise on this.
“We’ve delivered record trading over the summer peak trading months, with 98 per cent occupancy and record on-park spend.
“In response, we are looking ahead with confidence by increasing our capex investment over the coming year to circa £50m to further enhance our accommodation and facilities, expand leisure activities and grow our footprint.
“This will create over 300 full-time roles across the UK and with this momentum, the business is well-positioned to strengthen its position in the UK staycation market.”
Sales up at rival Haven but losses continue
The results for Parkdean come after Morning Wire reported last week that the group behind Haven holiday parks and Warner Leisure Hotels continued to make huge losses in 2024 despite its turnover jumping by almost £100m.
Bourne Leisure, which is owned by investment giant Blackstone, reported a pre-tax loss of nearly £170m for its latest financial year, having also lost £166.5m in 2023.
However the Hertfordshire-headquartered group’s turnover increased over the same period from £1.05bn to £1.14bn.
The average number of people the owner of Haven employed during 2024 also rose from 12,765 to 13,338.
The Haven owner added that its capital expenditure totalled £188.8m in 2024, after it also spent £217.9m in the prior year.