The UK’s staycation market is booming, with domestic holidays now more popular than a trip overseas*. The increasing number of people choosing to holiday in the UK has resulted in demand for high quality accommodation choices in prime locations, providing an opportunity for ambitious holiday park operators to innovate and capture a larger share of what is a competitive market.
Away Resorts is one such business that has diversified and expanded to offer holiday experiences for all tastes and budgets, and the operator’s growth has accelerated since the Birmingham-based team of mid-market private equity provider LDC backed the business’ secondary buyout in 2015.
Since then, Away Resorts has completed the acquisition of Mersea Island in Essex and commenced a £17million refurbishment and expansion project across its sites, particularly at Tattersall Lakes in Lincolnshire and Whitecliff Bay on the Isle of Wight.
Earlier this month, it also completed the acquisition of Sandy Balls Holiday Village in the New Forest, in a deal supported by additional capital from LDC. The addition of the new site created a six-strong portfolio valued in excess of £100million, with Barmouth Bay in Wales and Mill Rythe on Hayling Island completing the group.
With the addition of Sandy Balls, Away Resorts now has an annual turnover of over £40million, up more than 20 per cent since LDC first backed the business.
*12 months up to August 016, ABTA Holiday Habits Report 2016