OTA Luxury Cottages is planning to expand its property portfolio to more than 1,200 across the UK after a ‘substantial’ investment from West Midlands Equity Fund.
As a result, it says it’s looking to take on 25 more staff, including 12 in owner and guest services, nine in property management and in web developer, finance and admin roles.
Staffordshire-based Luxury Cottages, launched in 2020, matches guests with properties in locations across the UK. Earlier this year it appointed former Hoseasons CEO Richard Carrick as Chairman.
Mr Carrick said the OTA is looking to work with ‘luxury travel agents who can sell a UK break in a top quality property to their existing customer base’.
Giovanni Finocchio, Investment Director at Midven which manages West Midlands Equity Fund, said: “There are large segments of consumers who have the disposable income to take multiple holidays with many of them prepared to pay for a premium/luxury offering and service.
“With this trend comes a significant opportunity for Luxury Cottages to build its brand and grow its revenue, particularly after consumers have sampled staycations over the last 18 months because of COVID restrictions, and now have a flavour for better quality/luxury accommodation.
“This management team have many years’ experience within this market, and I believe they have the skills to grow this business into a significant organisation that will attract acquirers.”
Alistair Malins, CEO and founder at Luxury Cottages, said, “We’re an ambitious company keen on growth and this investment enables us to expand our operations into new areas including the Cotswolds, Yorkshire, Wales, Devon, and Cornwall.
“We’re all about providing holiday homes that create mouth-wide-open reactions when people open the door. The next step is to grow our team so we can continue our stellar records of personalised customer and owner service that we have built the company on.”