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Birmingham Post
Birmingham Post
Business
Jon Robinson

Sykes Holiday Cottages adds 400 properties to portfolio with latest acquisition

Chester-headquartered Sykes Holiday Cottages has acquired a counterpart in Suffolk in a move which adds 400 properties to its portfolio.

Best of Suffolk was founded 15 years ago by husband-and-wife team, Alex and Naomi Tarry and has been snapped up for an undisclosed sum.

The business will continue to operate under its own brand, supported by its team of nine employees based in Badingham, near Framlingham.

Graham Donoghue, chief executive of Sykes Holiday Cottages, said: "Like Sykes, the emphasis at Best of Suffolk has always been on providing wonderful holidays with high-quality customer service.

"This deal will enable the business to continue to grow with those principles at its heart, while also allowing us to bring all that this beautiful part of the country to offer to a much broader audience of holidaymakers."

The deal also provides an exit for Alex and Naomi Tarry.

Alex Tarry added: "Stepping down after 15 years has been a difficult decision to make, but we are sure that our team, our property owners and our guests will be in good hands with Sykes Holiday Cottages."

Sykes Holiday Cottages was advised by Springboard Corporate Finance and Hill Dickinson LLP.

The deal comes after newly-published documents revealed the company managed the "shock" of the first Covid-19 lockdown to still increase its turnover during the group's latest financial year.

Sykes' other brands include Cornish Cottage Holidays, Helpful Holidays, Lakes Cottage Holidays, Manor Cottages, Hideaways, Dream Cottages, Coast & Country Cottages, and Menai Holidays.

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