SHARE BONUS FOR STAFF AT BLUESTONE
STAFF at Bluestone are set for a special Christmas bonus after they have been made shareholders in the resort.
A new employee benefit trust (EBT) will allow eligible staff to join the scheme benefiting from profits the company makes.
Bluestone National Park Resort, which is expected to hit an annual turnover of £24m by the end of the year, has 724 members of staff.
Approximately 500 employees will be able to become shareholders.
Every year, all staff, including senior management, who have served for a minimum of 12 months continued service will become eligible for shares, in line with the share incentive plan policy (SIP).
The first dividend will be paid out before the end of the year, but the final figure has not yet been finalised.
The move, which is believed to be the first scheme of its kind in the UK leisure industry, will see a 30% shareholding transferred into the EBT.
If the business was to be sold then the EBT shareholders would benefit in the same way as all other shareholders in the proceeds.
Bluestone’s board of directors has approved final plans for the scheme which CEO and business founder William McNamara has been planning for more than a year.
“It was always part of the plan from day one that staff would own part of the company,” said Mr McNamara.
“This is a very proud moment for me, my fellow directors and shareholders.” Mr McNamara said that his original vision for Bluestone, which began some two decades ago, has been realised over the past three years.
“This culminated last year in the completion of our third phase which took the number of five star lodges, cottages and studio apartments to 344,” he said.
“Staff are at the heart of the customer experience at Bluestone and therefore our success as a business overall, so I’m delighted that our plans for an employee benefit trust have become a reality.
“The SIP will reward staff for their incredible loyalty and commitment and ensure they have a new opportunity to be recognised for the outstanding job they do for our guests.
“We now have our sights firmly set on the future and our staff will continue to play a key part of this vision.”
Bluestone saw a rise in 10,000 visitors this year in comparison to 2016, bringing the total number to around 150,000.
The Prembrokeshire resort recently announced plans to build a £7m SkyDome project.
Described by Bluestone as a UK first, the development will see a transparent canopy arched over a massive 7,000 sq metre area encompassing cafes, shops, activities and a 600-seat amphitheatre.
The new dome will create 55 new jobs at the resort and will see around £3m spent within the local construction industry.
But Bluestone says it wants to create an additional 300 jobs by 2020, taking the workforce to 1,000.
It is anticipated that SkyDome, which is expected to take around 15 months to build, will be open to resort guests in spring 2019.
Mr McNamara said he wanted to create a landmark project for the resort offering quality holidays and short breaks whatever the weather.
“We’ve got lots of plans for the facilities within SkyDome which will take guests on a journey through its winding, gently sloping paths, to a choice of activities for all ages,” he said.
“Proposals include caving, a high ropes course, ‘free-range’ craft activities and an adventure play area. The vision is to provide a spectacular undercover venue bringing the great outdoors indoors.
“An additional £22m will be generated for the local economy over a 10-year period which includes £3m spent with local contractors during the construction phase.”
SkyDome is intended to continue Bluestone’s ecological ethos and the area will not be heated, relying instead on solar gain for warmth while still allowing indigenous plants and trees to grow.