Island Escapes has been acquired by UK-based Sapphire Holidays Ltd.

The award-winning Isle of Man holiday lettings agency, which manages more than 150 properties across the island, will continue to operate under its existing brand and with all staff retained. The company will remain based in Castletown.

Founder John Keggin will stay on as Commercial Director under the new ownership.

Family-owned Sapphire Holidays, a Cornwall-based group, manages more than 2,500 properties across the UK through brands including Classic Cottages, Aspects Holidays, Boutique Retreats and Unique Hideaways.

Island Escapes properties will be marketed through Classic Cottages in the coming months, a move which Saphire says will give its new Manx portfolio wider visibility through a nationally recognised platform.

But Mr Keggin said the company would remain a locally run business.

He said: ‘This is the start of an exciting new chapter for Island Escapes.

‘Whilst the ownership changes, the company will still remain a local business very much, committed to supporting the community as we always have done, but with added investment, particularly in marketing that can only help raise the profile of our island as a destination to visit.’

Simon Tregoning, Chairman of Sapphire Holidays Ltd, said: ‘Island Escapes' ethos aligns closely with our own.

‘Our company was founded on professionalism and excellent service, and we know that John and his team share those values.

‘The Isle of Man is a unique place to visit, and we are looking forward to helping Island Escapes reach more customers, enabling them to discover this lovely island.’

Last year Island Escapes’ sister company, Homestay IOM Ltd, was appointed by Visit Isle of Man to run the official Homestay Scheme for the Isle of Man TT Races and Manx Grand Prix.

The scheme allows island residents to register their homes to accommodate paying visitors during the events, with hosts able to earn up to £2,350 tax-free.

Homestay registration is compulsory for any private household wishing to host paying visitors during the TT and Manx Grand Prix periods to ensure quality standards are met, aligning with targets outlined in Visit Isle of Man’s ten-year Visitor Economy Strategy, ‘Our Island, Our Future’, to ensure the Isle of Man delivers an exceptional visitor experience for all visitors.

Under the terms of the scheme, Homestay IOM Ltd is responsible for inspections, fire safety compliance and registration, and launched a new website and online booking platform after winning the tender process.

Hosts can also access additional services including marketing, booking management, payment handling, and cleaning.

Island Escapes said at the time that its services aimed to support hosts in meeting the quality standards expected of government-registered accommodation providers.

The company was awarded a three-year contract to run the Homestay scheme following a competitive tender process, replacing previous operator MiQuando Ltd.

Homestay IOM Ltd directors Mr Keggin and Jamie Stott said they aimed to make the scheme more accessible and improve the booking process for both hosts and visitors.