Sykes Cottages Sold for $480 Million in a Bet on Tech-Led Short-Term Rentals
The deal gives a nice return to private equity firm Livingbridge, which bought Sykes in 2015 for about $75 million. What makes Sykes Cottages stand out is that it has fully built almost all of its technology on its own and has almost 80 percent direct bookings. New majority stakeholder Vitruvian is now placing a bet on short-term rentals.
Sean O'Neill, Skift | 2 years ago