l-r Jeremy Middleton and Rick McCordall owners of Cottages of Northumbria

Date 17/08/10

A company, jointly owned by business investor Jeremy Middleton, is benefiting from the recession as cash-conscious families change their holiday habits.
Bookings at Cottages of Northumbria, which Jeremy Middleton owns with Rick McCordall, are up 20pc compared with the summer season last year.
The business boost is being attributed to the economic downturn prompting people to turn their backs on a holiday abroad and instead opt for a “staycation” by taking breaks in Britain
Jeremy Middleton said: “Poor exchange rates and economic problems within countries in the Eurozone means people, who may have otherwise decided to go abroad for their holidays, are choosing the UK as it represents better value for money."
According the Office of National Statistics, the number of trips abroad by British residents fell 15 per cent last year, as the financial downturn and poor exchange rates saw many families opt for holidays closer to home.
Regional development agency One North East says 2009 saw the region’s accommodation providers benefiting from the staycation trend with 70% of attractions experiencing a growth in performance in 2009 when compared to the previous year. Self catering, unit occupancy stood at 58%, three percentage points higher than 2008, according to ONE.

Jeremy Middleton added: “The levels of business we are experiencing at Cottages of Northumbria prove that the “staycation” continues to be dominant trend in the UK holiday sector in 2010.”
Rick McCordall said: “It is good news for the North East as the holiday makers, who book our cottages, contribute to the local economy by visiting local tourist sites and buying local products.”
Cottages of Northumbria markets and manages properties on behalf of their owners as well as owning its own property portfolio.
It currently has 70 properties on its books all within easy reach of amenities such as shops, bars and restaurants.
The company also offers its services to property investors by locating suitable cottages to buy and making them ready to rent out by organising any necessary renovation, decorating, and furniture deliveries.
Jeremy Middleton, whose business investment interests are represented by his company Middleton Enterprises, added: “Our cottages have always proved popular, but the current trend for people holidaying in this country rather than jetting off abroad has helped bring in more bookings.”
Rick McCordall said: “Northumberland is great place for a staycation with visitors able to enjoy the fresh air, stunning countryside and coastline, and an array of visitor attractions including historic castles and stately homes.”
He added: “As well as the staycation, other factors that, I believe, have also contributed to the company’s success are Northumberland growing in popularity and the fact we offer excellent customer service and easy to use on-line booking through our website http://www.cottagesinnorthumberland.co.uk.”
Cottages of Northumbria properties are located within walking distance of stunning award winning beaches, great places to visit including historic castles with many in friendly and welcoming villages dotted along Northumberland’s beautiful stretches of unspoilt coastline.

Jeremy Middleton was one of the founders of HomeServe plc in 1990, which represents the company’s core investment. A FTSE250 support services company, HomeServe has a market capitalisation in excess of £1bn.

CONTACT: Helen Logan on 01325 363436



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l-r Jeremy Middleton and Rick McCordall owners of Cottages of Northumbria
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