Awaze vacation rentals expands in England and Denmark

Europe’s largest managed vacation rentals and holiday resorts business has acquired holiday businesses in the UK and Denmark in deals supported by PKF Francis Clark.

Awaze Vacation Rentals operates across 36 countries, serving 8 million holidaymakers each year through its brands including Hoseasons, cottages.com and Novasol.

The group has now expanded its portfolio of holiday homes with the acquisitions of Amberley House Cottage Holidays Ltd and Bornholmtours.

Amberley House and its subsidiary Portscatho Holidays Ltd manage self-catering accommodation and vacation rentals in Sussex, Hampshire, the South Downs and Cornwall, while Bornholmtours operates on the popular island of Bornholm in the Baltic Sea.

We were delighted to collaborate with our Danish colleagues in the PKF network to complete the due diligence process in a timely manner and support Awaze in making these strategic acquisitions

Henrik Kjellberg, chief executive of Awaze, said the deals come amid “unprecedented demand for managed vacation rentals right across Europe”.

He added: “We are thrilled to welcome these new businesses into our portfolio. Cornwall and the south coast remain ever popular for Brits, especially in 2021 as we see record breaking demand for domestic holidays.

“The addition of Bornholmtours matches our ambitions of further growth in Denmark, where we are a leading player, especially in popular holiday hotspots like Bornholm, where we already have an established and high performing portfolio of managed properties.

“We are delighted to offer a warm welcome to all the homeowners and local office teams that have now joined the Awaze family.”

PKF Francis Clark conducted financial and tax due diligence on the acquisition of Amberley House and financial due diligence on the acquisition of Bornholmtours, working with PKF Munkebo Vindelev in Copenhagen.

Corporate finance director Robert Gear said: “We were delighted to collaborate with our Danish colleagues in the PKF network to complete the due diligence process in a timely manner and support Awaze in making these strategic acquisitions.

“Amberley House and Bornholmtours are great additions to the group’s existing portfolio and these deals come at a time when many countries are seeing record demand for staycations due to restrictions on international travel. We expect property owners to benefit from the group’s strong brands, marketing expertise and established customer base.”

The PKF Francis Clark team comprised Robert Gear, Paul Crocker, Tom Hicks and Chris Bishop.

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