Travel Chapter, which owns the high profile Holidaylettings brand, is to float on the London Stock Exchange’s junior AIM market.
Devon-based Travel Chapter manages over 8,000 holiday lets properties across the UK and its customer database surged to 1.1m in August this year from 735,000 in May 2019, thanks to the Covid-inspired Staycation craze.
The firm – which employs 400 people – is working with financial experts GCA Altium and Numis on the initial public offering and intends to start trading on AIM in November.
Travel Chapter was founded in 1989 and is currently owned by private equity group ECI Partners and management.
It’s the third largest holiday rental agency in the UK by property portfolio, listing about 10 per cent of the nation’s agency-managed holiday properties.
The Holidaylettings brand is the best known of some 33 regional and lifestyle subsidiaries, each targeting a different demographic across the whole of the UK or specific regions.
Chief executive Jayne McClure is quoted in the business media as saying: “We have witnessed long term and robust structural tailwinds in domestic tourism in the UK and believe that these are set to continue.”