SME Q3 2018

16 SME NEWS / Q3 2018 , Sykes Holiday Cottages is the UK’s leading and fastest-growing independent holiday cottage provider. As well as offeringmore than 11,000 holiday properties across the UK and Ireland, it is also driving a quiet revolution in the British tourism industry and now employs nearly 400 people at its head office in Chester. Setting their Sykes on Success Having begun life as a family business in the Yorkshire Dales in 1991, the company grew steadily for more than 20 years. In January 2015, however, it secured private equity investment from Livingbridge and hasn’t looked back. The company is playing a key role in promoting Britain as a destination of choice for UK and overseas travellers, while highlighting the benefits of holiday home ownership as an investment and income opportunity. Under the leadership of CEO Graham Donoghue, Sykes has become a tech- enabled service business leading innovation within the booming UK travel sector. Sykes has transformed itself from a holiday cottage booking agent to a market-leading technology company, while playing an important role in supporting British tourism and the prosperity of the UK’s rural economies. The company mission is to be the number one provider of UK holidays. Rather than act as an efficient but faceless booking agent, Sykes is focused on helping customers make lasting memories. This has driven customer satisfaction and ensured almost half of customers now re-book. Its growth during 2017 was rapid but, despite this, further opportunities remain. For example, it now offers more than 11,000 properties across the UK and Ireland, rising from just 8,000 a year ago. In addition to this, it has also served more than 1m customers last year. The business has always been an early adopter. Now it sets the technological pace rather than using tools developed by others. After investing heavily in technology, Sykes have developed the ability for homeowner partners to manage their properties with Sykes on an app, and last year the company launched a customer- focused app, providing guests with local recommendations and information from owners. In terms of its internal culture, Sykes has five key values; earning trust; honest communication; achieving together; growing and learning; and driving innovation and change. These values were devised by the team for the team, and Sykes believes in a fun and open working environment where colleagues support each other and collaborate to benefit the business and everyone in it. Sykes’ people and culture set it apart from its competitors and other employers, which is why the board places such importance on staff development and engagement. Sykes is committed to making the company a great place to work and has heavily invested in its staff and workplace over the last 12 months. This includes new training and benefits, as well as the introduction of a management development programme and an e-learning system to nurture future talent. The business’s approach to learning and development focuses on the whole person, and not just the working person. It doesn’t just deliver team and management development programmes, it runs growth workshops for individuals – ranging from personal pensions and professional mortgage advice to changing energy and insurance providers. Last year was a record one for Sykes with sales in the year to September 2017, its latest accounts, rising 38 per cent to £37.5 million and profit increasing 28 per cent to £8.8 million. The year also saw the firm reached the 1m travellers and 10,000 properties milestones; launched its My Sykes customer app; aired its first TV advertising campaign and moved into a new head office to support ambitious plans for growth. Over the last 12 months, Sykes’ success has been acknowledged with a number of industry 1801SM01 awards, including the British Travel Award for ‘Best Large Holiday Cottage Company’ for the fifth consecutive year. Lastly, Sykes have continued their successful journey after having been featured on the Sunday Times 100 Best Small Companies to Work For ‘ones to watch’ list.