Trade-only accommodation supplier getabed.co.uk has been recognised as one of the UK’s top growing private companies.
The firm appears in the prestigious Sunday Times Fast Track 100 list for the first time this weekend.
The list details the 100 fastest growing privately owned companies in UK across all sectors.
Getabed’s turnover has grown from £300,000 a year when managing director Matt Stuart joined 12 years ago to £13.4 million in the last financial year ending on September 30.
Stuart is forecasting a further 25% growth to £16.5 million in the 12 months to September 2011.
Unlike other bed banks, the company concentrates on long haul and city properties where it can achieve higher margins than resort-based rivals.
The company, which employs just 18 staff, has access to more than 50,000 properties worldwide and deals predominately with independent agents and operators
Stuart attributed the company’s success to investment in staff training, an expanded product team and technology which drives its website.
“The website is based on feedback we get from agents,” he said. “There are a lot of agents who are fiercely independent and that presents us with real opportunities to differentiate ourselves.”
Referring to the entry into the list of the fastest growing private companies – details of which will be confirmed on Sunday – Stuart said: “Considering from what my research told me, that there are approximately 1.15 million of these in UK, to be in top 100, is pretty good.”