Sykes bolsters portfolio with Abersoch Quality Homes purchase

UK: Holiday cottage rental agency Sykes Holiday Cottages has bolstered its property portfolio in North Wales by acquiring regional holiday home specialist Abersoch Quality Homes.

The purchase of the Gwynedd-based business will add an additional 100 properties to Sykes’ existing portfolio of almost 20,000 holiday cottages across the UK, Ireland and New Zealand – 2400 of which are in North Wales.

Co-founded by Debra and Tim Elvins in 2005, Abersoch Quality Homes will be looked after by Menai Holidays, Sykes’ flagship brand in North Wales. The Elvins family will be stepping down to focus on their estate agency business, according to Sykes.

Sykes Holiday Cottages said the transaction will allow the company to offer customers an even broader range of properties and availability in the coastal resort of Abersoch.

Abersoch Quality Homes, a family run business founded by Debra and Tim Elvins in 2005, will be looked after by Menai Holidays, Sykes’ flagship North Wales brand. The Elvins family will step down from Abersoch Quality Homes to focus on their estate agency business, Sykes said.

Graham Donoghue, chief executive of Sykes Holiday Cottages, said: “Like Sykes, Abersoch Quality Homes has always focused on providing exceptional accommodation and customer service. It’s an exciting time for all involved and we’re looking forward to supporting the long-term success of Abersoch Quality Homes’ 100 properties – shining a spotlight on the holidays available in this beautiful part of the country.”

Sykes was advised by Springboard and Hill Dickinson LLP.

It follows Sykes’ acquisition of cottage lettings agency Best of Suffolk last month, which increased the company’s portfolio by 400 properties, across the Suffolk coast, the Brecks and Constable.