MARCH 2022

Positive outlook, says CEO

Ingenia holiday parks enjoy strong demand

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INGENIA, which operates a chain of lifestyle and holiday parks, reports a 13 percent increase in income from its tourism sector.

The NSW-based group attributes the good news to its acquisition of new holiday parks and the installation of 33 new tourism cabins.

Half-year results for the six months ending December 31 show that Ingenia Holidays now comprises 34 holiday communities offering holiday accommodation, annual sites and permanent homes.

It expanded by adding 11 more holiday parks to its stable ... Noosa North, Eden, Torquay, Phillip Island, Cape Patterson, Ulladulla, Beacon, Murray Bend, Swan Bay, Swan Reach and Lake Hume.

The ASX-listed company said revenue rose 7.7 percent to $131.4 million and statutory profit increased to $53.1 million from $36 million.

COVID lockdowns had hit its parks and facilities hard with EBIT plunging 12 percent to $12.7 million, but there was a significant increase in demand when restrictions were eased.

Strategic priorities for Ingenia Holidays included improving guest experiences, growing tourism revenue and integrating recent acquisitions and investing in new tourism cabins.

The company's holiday business had risen from 2836 sites a year earlier to 4240 sites by the end of December on the back of acquisitions such as the $37 million purchase of the award-winning BIG4 Beacon Resort (pictured above) on Victoria's Bellarine Peninsula.

"Pleasingly, Ingenia's holidays business is experiencing strong demand and forward bookings are up materially on the prior year," chief executive Simon Owen said.

This provided a "positive outlook" for holiday parks across its key markets of New South Wales, Queensland and Victoria.

Ingenia declared a 5.2 cent dividend, slightly up from what was paid a year earlier, payable on March 24.

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