Grant Wilckens (ILF2014), Amanda Baldwin (ILF2019, Michaela Webster (ILF2021)
The country’s largest regional accommodation provider has slipped to a second consecutive loss, but is doubling down on a bullish expansion aimed at scaling up to a $2.5bn business over the next two years.
Adelaide-based G’day Group – 95 per cent owned by the $3oobn Australian Retirement Trust – reported a 15 per cent increase in revenue in the year to June, to $397 .3m, according to financial statements filed with ASIC.
G’day Group chief executive Grant Wilckens said the improved operating result was driven by the company’s continued investment in acquisitions and upgrades to its growing network of holiday parks across the country.
“One of the primary reasons for this year’s loss is significant one-off expenses relating to our rapid expansion and ongoing investment to continue to build a robust, property-based business model,” he said.
Among the recent acquisitions was the $4m purchase of the WilPena Pound Resort in South Australia’s Flinders Ranges and another park in Western Australia’s Margaret River wine region.
In December Discovery Parks will take over the branding, naming rights and sales and marketing for South Australia’s largest holiday Park – the West Beach Parks holiday park- from rival holiday park company Big4.