A Cheshire holiday firm has secured £9m from HSBC, which it said it will use for the 2021 season and to ‘prepare for growth’.
The bank said Greenbank Holidays, part of the European Camping Group, required additional support due to cancellations and the “near-elimination” of the summer holiday season caused by the coronavirus pandemic.
Greenbank Holidays operates 175 leisure resorts across Western and Southern Europe, managing sites of mobile homes and tents, and employs 1,200 staff across its sales, marketing and operational functions.
Funding was used to support the business’s operation through the pandemic, chiefly to help with customer refunds and support the fixed overheads of the business, it said, but funding is now supporting preparations for increased growth next year.
Greenbank has seen a 40 per cent year-on-year increase for 2021 holiday bookings, with a strong recovery in turnover expected as holidaymakers plan long awaited trips abroad.
Darren Marsh, Greenbank Holidays managing director, said people are “desperate” for a change of scenery in 2021, after months of lockdown.
“We have been adamant in ensuring customers can receive a refund if their plans with us were impacted in 2020 and have utilised HSBC UK funding to make sure our sites are in top shape for the return of guests in the near future.
“In many ways, Eurocamp is perfectly suited to a Covid-secure holiday, as families can remain self-contained throughout their journey to and from their destination.
“While this is obviously not a traditional holiday experience, the public appetite remains strong, with 60 per cent of customers already using 2020 refund vouchers for planning future stays in 2021.”
Stephen Wright, relationship director for HSBC UK, Corporate Banking, added: “Covid-19 dealt the holiday industry a devastating blow in 2020, with many organisations facing monumental challenges.
“Greenbank was in a healthy position going into the pandemic due to effective management and a loyal customer base, so we were pleased to support the business in the short-term and provide funding in preparation for a strong return in 2021.”
