Classic Cottages are the market leaders in the South West when it comes to holiday homes. Currently managing a portfolio of around 700 properties, Classic has built its business and reputation from scratch (and initially from a dining-room table) over the past 34 years.
Boutique Retreats began with an aim to bridge a gap between boutique-style hotel accommodation and self-catering in the couples market. The bespoke alternative to hotel accommodation is both a hot topic and ‘hot tweet’ in the press and glossies; most recently being tipped by Tatler as ‘the place to stay in Cornwall for the stylish holiday makers’. Boutique Retreats manages 11 properties.
This is the second helping of big news for Classic in a matter of months; Anthony Skitt was appointed as Managing Director in January, taking over from Simon Tregoning who remains as Chairman. Boutique Retreats has grown both in portfolio size, but also in brand reputation since its launch by former city girl, Philippa Barton, who left her job as an investment banking lawyer to set up the business in 2007.
Simon Tregoning, Chairman of Classic Cottages, said: “We are very impressed with the way that Philippa has built her business and are keen to give her the platform upon which she can continue to develop Boutique Retreats. There is much to be gained for both businesses by sharing knowledge and operational systems but allowing each to speak to its customers in its own way. We look forward to helping Boutique Retreats go from strength to strength.”
“It is an incredible opportunity for Boutique Retreats,” said Philippa; “The business has grown in brand and size to the point where we were looking for investment to take Boutique Retreats to the next level. Being in partnership with Classic was an amazing opportunity which just seemed to fit perfectly with our business. You have to trust your gut feeling. What may look like a great investment match on paper can only work if the chemistry is right. Our markets are very different, but the ethos, passion and enthusiasm for what we do are essentially the same.”
Both businesses are keen to stress this is an investment and not a merger. Classic Cottages have built and established a strong reputation as being a family business, and this latest partnership is an extension of that. Whilst Simon and Anthony will become partners within Boutique Retreats, Philippa will still be running Boutique Retreats, based in St Agnes.
“I think of it more as a ‘family of businesses’ building a portfolio within a core industry,” said Philippa. “I’d like to say it’s business as usual but the reality is going to be brilliant for business – more a case of business as usual but better.”
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