Pleasure Beach Resort Blackpool posts £1.7m pre-tax loss - this is what is behind the struggle

In newly-filed accounts for the year ending March 24, 2024, the historic amusement park also said that turnover remained flat at £37.2 million, while costs rose sharply.

The company cited high inflation, interest rates, and “significant increases” in the National Minimum Wage as key factors impacting profitability. It also blamed poor weather during peak trading periods and ongoing fallout from the cost-of-living crisis, which it says has made visitors more hesitant.

“The continuing cost-of-living crisis has made customers hesitant,” the board said in a statement. “Poor weather during key trading periods also acted as a contributor restricting visits to the park and the hotel. High inflation, high interest rates and significant increases in the minimum wage puts additional stress on our cost lines, making profit harder to achieve.”

Attendance

Attendance at the park rose by two per cent and revenue ticked up slightly from £31.8 million to £32.1 million. However, cost of sales jumped 11 per cent, leading to a pre-tax loss of £2.7 million for the park itself.

In response, the company said it has undertaken a review of staffing and ride operations, including a look at the opening and closing times of rides and the park with a view to maximising efficiency. This work has now been concluded.

Last month park bosses announced that five rides will not reopen for the 2025 season - but no more closures are planned. In fact, last week it was announced that a new £8.72m Gyro Swing will open in 2026, following the reimagination of the Ice Blast ride as Launch Pad, opening soon. New ‘afternoon only’ tickets and tickets just for Nickolodean Land have also been announced.

Hotel

The park’s hotel business also struggled, with turnover falling from £4.6 million to £4.3 million and occupancy levels remaining below pre-pandemic figures. “Our customers are being more cautious in order to protect their disposable income,” the company said.

Looking ahead, the park said trading conditions remain difficult with no immediate improvement in sight. “The cost-of-living crisis is ongoing. We do not foresee any short-term change,” the statement added. “We continue to review our operation with a view to making the business more efficient and sustainable.”

“Lots to look forward to”

A spokesperson from Pleasure Beach Resort said: “It has been a challenging few years of trading across the entire industry, and we have undertaken the necessary actions to continue to offer the same amazing experiences to our guests.

“We have already undertaken a strategic review and implemented changes; this has now concluded. The changes referenced in the accounts have all been actioned and completed, furthermore there are currently no plans to close any further rides.

“We are confident there is lots to look forward to at Pleasure Beach Resort for the immediate and long-term future, beginning with the opening of Launch Pad this spring, and our announcement of an £8.72M Gyro Swing, opening in 2026.”