Piperdam Performing Well Despite Lockdown LossNeil Hardie
The firm that owns Tayside resort Piperdam saw sales fall by more than £3 million in 2020, but insists the resort is performing well.
Coppergreen Developments has owned the golf and leisure facility since 2016.
Newly filed annual accounts lay bare the financial impact on the group, which has a further three resorts across the UK.
Coppergreen also operates Kenwick Park Estate, Woodland Lakes Lodges in Thirsk and Clumber Park Lodges in Nottinghamshire.
The group’s turnover fell from £14.9m in 2019 to £11.6m to the year ending 31 December 2020.
In her strategic report published alongside the accounts, Coppergreen director Donna Copley said it had been a challenging time for the group.
Ms Copley said: “Clearly, for hospitality industries, 2020 has been difficult and Coppergreen has been impacted adversely to a degree.”
She outlined several areas where the business had used the Covid-19 lockdowns to update a number of systems.
The updated technology aims to improve the level of direct bookings and allow better communication across maintenance teams.
Ms Copley, the firm’s finance director, said the enforced closures had allowed Coppergreen to “improve the foundation of the company’s operations and futureproof the business.”
Accounts for Piperdam show turnover fell more than £3m at the resort, on the outskirts of Dundee.
It dropped from £7.5m in 2019 to £4.4m for the year ending 31 December 2020.
In 2019, a 13% increase in EBITDA (earnings before interest, taxes, depreciation, and amortization) was achieved.
However, the impact of the lockdowns and restrictions on trading meant a 44% decrease in in EBITDA.
Staff numbers at Piperdam also dropped to 137, a decline of 22 from 2019.
Ms Copley said that the figures did not accurately represent how well Piperdam had performed while it was able to open.
“On Monday 23rd March the park closed due to the national lockdown and did not reopen until early July,” she said.
“On reopening, bookings were incredibly strong. They out-performed 2019 results and over-achieved budget.”
Ms Copley said the tightening of Covid restrictions in October 2020 “further hindered” the resort.
However, since reopening in April this year, the 650-acre site has been regularly busy.
Coppergreen’s finance director said they were taking advantage of more people holidaying within the UK this summer.
She said: “Bookings have once again been very strong for the year ahead.
“We are currently ahead on occupancy and tariff versus comparable operational periods.
“The staycation boom expected for 2021 is currently being capitalised on by the park.”