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Travel Chapter secures funding from Santander to support growth
Bideford-headquartered Travel Chapter, a leading holiday lettings agency, has secured funding from Santander Corporate & Commercial to support the company’s growth strategy.
The business was founded by the Morris family in 1979. Under its current CEO, James Morris, the business has become one of the UK’s leading holiday lettings agents. Travel Chapter owns a number of online booking websites including its flagship brand, holidaycottages.co.uk.
Having grown across the South West, the business began expanding nationally in 2013 through a combination of organic and acquisition-led growth. Today the business has strong coverage in key tourist destinations with over 3,500 high quality properties under management across the country.
Phoenix Equity Partners invested in the business alongside the management team in April 2016 to support its continued growth in the fragmented UK holiday lettings market. The company continues to grow rapidly and has just completed its full year 2017 financial year with revenue growth of 35% on the previous year.
James Morris, Travel Chapter, said:
Travel Chapter continues to grow rapidly across the UK on the back of our proven growth strategy, easy to use websites and digital marketing expertise. We focus on delivering the very best service to our customers and property owners alike, which is evidenced by our high customer repeat rates and a loyal owner base. We are pleased to be partnering with Santander, whose facilities will enable us to deliver the next stage of our growth.
Saul Proctor, Director, Structured Finance, Santander Corporate & Commercial, said:
We’re delighted to be supporting Travel Chapter at this key time in its growth journey. Led by a highly experienced management team and with the backing of Phoenix, the firm has a clear business plan and excellent track record of delivering growth on the back of its high quality property portfolio and excellent customer and owner service.
