Thu, 10 Mar 2022 | BUSINESS SALE
Holiday cottage rental group Sykes Holiday Cottages has continued its rapid acquisitive expansion with the takeover of two regional counterparts. LHH Scotland and Lyme Bay Holidays have been acquired for an undisclosed sum and add 450 new properties to the Sykes portfolio.
The two companies will continue to trade as sister agencies post-acquisition, but their holiday rental properties, which are located across Dorset, Devon and Scotland, will now be available to book through the Sykes platform.
The acquisition brings Sykes’ portfolio across the UK, Ireland and New Zealand to over 22,000 properties. The company has undertaken rapid acquisitive growth over the past few years, especially since the COVID-19 pandemic led to growing demand for UK-based holidays, with its portfolio having stood at around 5,000 properties just five years ago.
Over recent years, Sykes has been targeting holiday cottage letting firms across the UK, with some of its latest acquisitions including firms in Northumberland, North Wales and Suffolk. Despite the lifting of COVID-19 restrictions, Sykes has said that summer 2022 is set to be its biggest yet, meaning its acquisition drive seems likely to continue.
Lyme Bay Holidays has been operating for over 40 years and has over 350 self-catering holiday cottages throughout Dorset and Devon. LHH Scotland, meanwhile, is based in Balblair, Ross-shire and has more than 125 holiday properties across Scotland, approximately half of which are in the Outer Hebrides.
Commenting on the deals, Sykes Holiday Cottages CEO Graham Donoghue said: "It's great to bolster our portfolio of holiday homes in Scotland, Dorset and Devon ahead of what’s shaping up to be our busiest summer on record.”
"By utilising our market-leading technology and making these holiday homes available to Sykes’ huge customer base, we’ll help LHH and Lyme Bay’s property owners reap the rewards of growing demand for staycations.”
"With the support of our regional sister companies, we’re now trusted by the owners of 22,000 holiday homes throughout the UK and Ireland and two million travellers each year."
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