Accomodation only specialist Bedsearcher is actively seeking an industry partner to accelerate its growth plans.
The firm, which has enjoyed rapid expansion since its foundation in 2002, is now looking for further investment or partnership and according to the CEO, Jim Mann, will also consider offers for the business as a going concern.
Bedsearcher, which has beaten off stiff competition from big names to win top industry awards in travel and tourism and business and innovation, maintains a room stock of 1200 contracted UK hotels, guest houses and bed and breakfasts.
It is widely considered to be the market leader in the micro-sector where the core business is properties with fewer than 15 rooms. Unique processes, systems and pricing model have enabled Bedsearcher to embrace this market and capitalise where others have struggled.
“Bedsearcher has built an excellent foundation with market leading technology, strong sales growth and impressive distribution of properties,” said Mr Mann. “Our unique model has enabled us to be particularly successful with small properties and for the first time to enable the onward distribution of this room stock to wholesalers and agents.
“We will show our first profits in March 2008 and the launch of our XML feed and new agent interface before the end of this year will only accelerate this position.
“Our decision to look for an industry partner is in recognition of the increased value that our niche market dominance will provide. Budget - and in particular - the micro-market properties, currently account for the fastest growing sector of the UK market.”
According to Mintel, the budget sector has grown 38pc between 2002 and 2006, which is more than three times the rate of overall growth in the market at 12pc. Further to that Mintel predicts the growth to continue with a further 38pc growth over the next five years.
“The UK budget sector alone is now worth more than £1 billon and with the projected growth, will be worth more than £1.5 billion by 2012. Bedsearcher is uniquely placed to take advantage of this growth and is the perfect bolt-on to established distributors looking to capitalise.
“Our technology was always built with scalability in mind and it will be immensely satisfying to see it in operation on a multi-lingual global format.”