Growing LateRooms seeks new home
ONLINE hotel booking company LateRooms.com is set to move to a new location in Manchester after outgrowing its base of the last 11 years.
The dot.com success, part of holiday giant TUI Travel, is looking for a 30,000sq ft office in Manchester city centre, chief exectuve Chris Morris said.
LateRooms is currently based at the Deva Centre, Salford, where its 320 staff are spread across six units.
Mr Morris said: “We’ve looked at quite a few locations across the city – now is not a bad time to be negotiating a deal.
“We want to stay in the city centre – Manchester is our home. We’ve a shortlist of four or five locations and we’re hoping to make a decision in the next month.”
He said a range of options were being considered, including a location within the Spinningfields business district.
Mr Morris, 38, revealed the relocation plans as he set out his vision to grow the business internationally in the next few years.
At present the bulk of LateRooms’ sales are from within the UK – a situation which will change over time as overseas business picks up.
Europe and the Far East are the key growth opportunities. Last year LateRooms’ management team took responsibility for growing the Asia Rooms and the Hotels London brands within TUI’s business to consumer division.
As well as its Manchester base LateRooms has offices in London, Majorca, Milan and in the next few weeks Paris. In the Far East there are bases in Singapore, Bangkok and Sydney.
As a digital business which allows consumers to save money, the recession has not impacted LateRooms – which will grow its revenues by 50% this year.
Mr Morris said far from becoming lost within the big organisation, TUI has proved to be an excellent owner for LateRooms and none of its entrepreneurial edge has been lost.
“They’ve been great for us. We’re a little bit different from many of their businesses. They don’t interfere, and accept we are a specialist in the market. I’ve had nothing but positive support.”
Mr Morris, who joined as finance director after the £21m buyout by private equity house ECI in 2004, and then guided the business through the 2006 sale to First Choice – which later merged with TUI – said LateRooms’ current stable ownership is a benefit.
“We’re able to think long term – we can take maybe look five or 10 years ahead because we have a stable ownership structure.
“It’s still a young and exciting business, and with a five-year plan to become a genuinely global player, there’s a lot of work to do and I’m having the time of my life.”
