‘Adventurous over 50s’ help tour operator Shearings to grow record profits
The group includes the Shearings Holidays, National Holidays and the Coast & Country and Bay hotel brands.
Manchester Evening News reports that Shearings Leisure Group, the specialist operator of escorted tours and leisure hotels, has revved up record trading results for its latest financial year.
The group – which includes the Shearings Holidays, National Holidays and the Coast & Country and Bay hotel brands – grew sales, profits and passenger numbers over the 12 months to December 2016, its fourth successive year of growth.
Revenue increased 3 per cent to £207.2m, that’s up from £200.8m in the previous year, alongside passenger number growth of 4 per cent to 1.12m, up from 1.08m in 2015.
The group said underlying profit (adjusted EBITDA) increased 13 per cent to £10.3m, up from £9.1m, thanks to improved gross margins and continued cost discipline.
The group, which provides holidays and hotel breaks across the UK, Europe and worldwide, also said it had continued to invest significantly in its hotel portfolio, having spent £4.6m on room and facility upgrades during the year, taking its three-year total to almost £13m. Further investments were also made in its coach fleet and IT infrastructure.
Earlier this year, Shearings Leisure Group appointed former president and CEO of US based global holiday group Celebration Travel Group, Richard Calvert, as CEO.
Mr Calvert said the group planned to build on the record performance by investing in its brands, hotels and its digital platform to create easier and faster ways to book.
Richard Calvert, CEO of Shearings, said: “The kind of short breaks and holidays that today’s over 50s want has changed beyond recognition.
“We’re healthier and more adventurous than ever, and as interested in walking holidays in Austria and river cruises on the Rhine as hotel breaks on the Cornish coast.
“We’re continuing to listen to our million customers and evolve our offering to reflect the over 50s market in the broadest sense, providing a wider range of exciting locations and activities across each of our brands, underpinned by a common commitment to great quality, value and service.”
He added: “What is unique about the Group is the pride, passion and knowledge of our people in what is a diverse,expanding and evolving part of the holiday market. We also have a family of trusted brands with enormous heritage and equity with our customers, which gives us a strong platform to build on.”
(Article source: Manchester Evening News)