Pontins gains from the credit crunch as tourists stay home

Consumer belts are tightened more and more each day. But this isn’t necessarily for bad news for all market sectors. Take the domestic holiday market, for example. Pontins holiday camps are not complaining about a consumer downturn…

News today from holiday parks operator Pontin’s which has enjoyed a 10% increase in bookings for summer 2008. The main reasons are the credit crunch and expensive euro which are encouraging holidaymakers to shun overseas destinations in favour of traditional British seaside resorts.

Chief executive Ian Smith said Pontins, which was recently bought by investment firm Ocean Parcs for £46m, would increase its turnover by at least £3m to over £50m in 2008 and would reach its objective of breakeven.

Smith also attributed the increase in bookings to the company’s more aggressive marketing (for example, greater use of price discounting) and Pontin’s revamped website, which makes it easier for people to book one of its seven parks around the UK.