London float: Staycation demand convinces Travel Chapter it’s time to go public
To cash in on the recent demand in staycations across the UK, holiday let firm Travel Chapter has announced plans to float in London.
The company, which operates more than 8,000 properties across the UK, will float on the London Stock Exchange’s junior AIM market. It is understood the listing is expected to value the company at around £350m.
Travel Chapter manages properties on behalf of 6,200 owners across 33 regional and lifestyle brands, with all sites on its holidaycottages.co.uk platform.
The hospitality business said it has increased its customer database from 735,000 in May 2019 to 1.1m in August 2021 amid rising demand for domestic holidays, aided by foreign travel restrictions during the pandemic.
It said it plans to use investment from the listing to fuel its long-term growth strategy, which will see the business grow its portfolio of sites.
Admission to the AIM market is expected to take place next month.
Jayne McClure, chief executive officer of Travel Chapter, said: “We are delighted to announce our intention to IPO on AIM.
“This marks the exciting next stage of the Travel Chapter journey as a leading online platform for UK holiday rentals.
“We have witnessed long term and robust structural tailwinds in domestic tourism in the UK and believe that these are set to continue.
“Our sector-leading booking platform, owner relationships, customer service and quality-focused property portfolio means we are well placed to continue to grow market share in a fragmented market, both organically and through selective acquisitions.”