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Weak pound boosts bookings at PE-backed holiday company

Date added: 19/01/2018

Bookings have risen by a fifth year on year at Sykes Holiday Cottages, with the private equity-backed holiday company boosted by the weakness of the pound after the EU referendum and the shift towards taking shorter but more frequent breaks in 2017.

The business, which secured an investment from private equity firm Livingbridge in January 2015 that reportedly valued it at £54m, has revealed that bookings climbed by 22 per cent during the course of 2017.

It also served in excess of a million travellers for the first time and attracted more overseas visitors, with bookings from outside the UK up by 7 per cent.

Graham Donoghue, chief executive of Sykes Holiday Cottages, said that bookings were driven by a growing appetite for experience-based mini-breaks and increasing demand for unique properties like yurts.

He added: "Staycations and glamping trips aren't new, but the weakness of the pound after the EU referendum and the shift towards taking more, shorter breaks really helped British holidaymakers focus more on making the most out of any downtime they have.

"Unspoilt beauty spots like Cornwall, the Cotswolds and the Lake District have huge amounts to offer and will always be popular, but what we are seeing now is more people choosing their breaks by the type of holiday they want to have, rather than simply the destination.

"Unique accommodation like yurts, log cabins and shepherds' huts are increasingly popular, and we expect this trend to continue into 2018 as even more holidaymakers begin to realise that they can enjoy unique experiences without compromising on comfort."

Headquartered in Chester, Sykes Holiday Cottages now offers more than 10,000 holiday homes across the UK and Ireland. 


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