Staycation rise sparks tourism drive for city accountants
PUBLISHED: 10:00 11 October 2014
Norwich-based accountancy firm Lovewell Blake has created a new specialist team to support East Anglia’s holiday parks sector.
The team will draw on the firm’s expertise in the tourism, hospitality and agricultural sectors, as well as its specialism in family businesses.
With more than 200 holiday parks across the eastern region, the sector is a vital part of the local tourism industry, which supports thousands of jobs in Norfolk and Suffolk.
The new team will be headed by partner and growth specialist James Banham and holiday parks specialist Kim Mann, supported by Andrew Miller and John Catchpole.
“Holiday parks are an important contributor to the East Anglia economy, and make up a large part of the accommodation base which is vital to the success of the wider tourism industry,” said Mr Mann.
“The continued success of the ‘staycation’ mean that there are significant opportunities for growth for holiday park businesses, but there are some specific challenges which it is important to tackle in order to maximise that growth.
“Many of these businesses have grown from a farming and agricultural base, and a great number are family businesses.
“By their nature, holiday parks are capital-intensive, so the right structures, the right financing and the right tax advice are absolutely vital.”