The Bristol office of Smith & Williamson has advised on the sale of Brecon Beacons Holiday Cottages to The Travel Chapter Group.
Founded over 40 years ago as a small family-run business, Brecon Beacons Holiday Cottages now showcases a collection of over 300 properties in and around the Brecon Beacons National Park and is one of the largest self-catering cottage providers in the area.
The Travel Chapter Group, based in Bideford in North Devon, is a holiday letting agencies with a collection of holiday home across the UK. Brecon Beacons Holiday Cottages will become its core brand within the region and will benefit from added marketing exposure and reach across a number of sites within The Travel Chapter network, which receives over 30 million visits a year and includes the flagship brand, holidaycottages.co.uk.
The Smith & Williamson corporate finance team was led by Martyn Fraser and Paul Stagg.
Elizabeth Daniel, founder of Brecon Beacons Holiday Cottages, said: “I am immensely proud of the part we have played in promoting the Brecon Beacons National Park over the past four decades and I am delighted that The Travel Chapter Group are going to build on this. The Smith & Williamson team came highly recommended to me and immediately proved to be a great choice. They were crucial in helping me select the right partner to take the business forward for the benefit of our staff, owners and customers.
“I really cannot thank them highly enough for their unwavering and tremendous support, advice, reassurance and ‘hand-holding’ throughout this transaction; most certainly the most turbulent and uncertain time in the tourism industry.”
Martyn Fraser, partner at Smith & Williamson in Bristol, said: “This is the latest in a series of transactions we have assisted with as the sector continues to experience rapid consolidation. The UK holiday cottage market is going to see growing demand in the coming years and this transaction will ensure property owners in the national park benefit from that. Retaining the local team and services that owners and customers value was crucial to Elizabeth and I am delighted we were able to structure a transaction to achieve that.”
Legal advice to Brecon Beacons Holiday Cottages was provided by Simon Hore of Thrings.