Vectis Ventures Ltd

Vectis Ventures Ltd. is a family-owned business based on the Isle of Wight with a history going back to the mid-1800’s.

Today, the company owns and runs two of the Island’s most iconic and recognisable tourist attractions: Blackgang Chine, which is the UK’s oldest theme park, and Robin Hill Adventure Park and Gardens, site of the famous Bestival music festival and winner of the Isle of Wight Chamber of Commerce “Tourism & Leisure Business Awards for Excellence” and the coveted “Island Business of the Year Award“ in 2008/2009.
Case Study:

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Left to right:Rob Holgate, Financial Director, Vectis Ventures: Auditel Consultants, Steve Ray and Keith Marsh.

Employing over 120 staff during peak season and attracting over 300,000 visitors across both sites each year, plus a further 55,000 festivalgoers, Vectis Ventures is one of the Islands most successful and important tourism businesses and is considered to be a flagship business that helps form the identity of the Island to a national and international audience.

Like all successful businesses, however, one of the biggest challenges Vectis face is staying on top of overheads, particularly utility costs, which require time and expertise to manage effectively. So, when Auditel Consultants Steve Ray and Keith Marsh approached them in 2008 with a view to providing cost and purchase management services, the Group’s Financial Controller, Rob Holgate, agreed to meet and find out more.

As Rob says, “From our point of view there didn’t seem to be anything to lose by engaging Keith and Steve to manage our gas and electricity costs and two years down the line I’m very happy with that decision. As a family business we re-invest our profits heavily in developing attractions at both of our sites so any reduction in expenditure that can go towards this growth and development of the business is worthwhile, however it’s on the management side that I believe we’ve benefited most from working with Auditel.”

Through these renegotiations Keith and Steve have implemented savings of 50% at the Blackgang Hotel, plus a further 22% and 20% respectively across the Blackgang and Robin Hill theme park site, but, more significantly, they have also overseen the fitting of new meters at both sites and sorted out a number of contract and meter reading issues.

“One of the new meters installed is what is known as a ‘times ten’ meter, which the supplier evidently forgot, so when the first bill turned up it was ten times higher than it should have been. Thankfully, Keith was able to negotiate with the supplier on our behalf to get the bill corrected, saving me hours of work and the company a lot of money! Also, just before engaging Auditel, we tried to change to a new electricity supplier but our incumbent supplier told us we’d left it too late to give them notice which forced us to stay with them and pay higher prices than necessary. However, once Auditel got involved they were able to negotiate much better prices and I know that next time we’ll be in a position to give notice in plenty of time to take advantage of the best deal for our needs. From my point of view it’s a great relief to know that I’ve got access to expertise when I need it and that any problems or issues will be dealt with quickly, without the need for me to get involved directly.”

Savings Breakdown:

Gas and Electricity Costs
-Blackgang Hotel (Office Site) 50%
-Blackgang Theme Park Site 22%
-Robin Hill Theme Park Site 20%
plus rebate from Robin Hill of 25%

Download a PDF copy of the case study.