The famous self-catering holiday brand Hoseasons has now been sold to Wyndham Worldwide, the parent company of Holiday Cottages Group. It’s been reported that the company was bought for £38.8 million ($60 million).

Hoseasons offers holidays for about 10,000 cottages, lodges and caravans across the UK. It was established 65 years ago in a small boatyard by Wally Hoseason, and then the company was passed to James, his son, who operated the business until 1999. The firm was again purchased in 2003 by the current owner, HgCapital. The self-catering business now sells about 300,000 breaks every year in the UK, and they have 15,000 properties across 7 countries in Europe and employs some 280 workers.

Wyndham Worldwide says that Hoseasons is a strong strategic fit for their current operations in the UK due to the company’s presence being at 440 holiday parks in the nation. Wyndham, a US company, operates a number of brands, including Welcome Cottages, Canvas Holidays and English Country Cottages. The company’s portfolio consists of 60,000 properties located across 20 countries in Europe.

The managing director of Wyndham’s rental business in Europe, Ian Ailles, said that this takeover means the firm will be able to offer a complete range of holidays to customers. Adding the UK holiday parks complete their suite of offerings, he added.

Wyndham chairman and chief executive Stephen P. Holmes says that buying Hoseasons is a great example of how they are redistributing part of their free cash flow to supplement organic growth with opportunistic acquisitions. Hoseasons strongly fits their rentals business in Europe and is an attractively-priced opportunity for them to continue growing their free-for-service business.