It is the second major acquisition by Brooklyn Travel, which was set up following a management buy-out of Stewart Travel from Minoan Group last year.

Villa Select, based in Alcester, Warwickshire, and Palma, Majorca, offers more than 350 high-end properties in Europe, US, Caribbean and south-east Asia.

Duncan Wilson, Brooklyn’s chief executive, said: “While it is true that we are in expansion mode, we are only interested in organisations that share our culture of quality product and service at value for money prices.

“We have very ambitious plans to grow and develop Villa Select in a very short period of time, significantly increasing the already impressive property portfolio at the company’s disposal.

“Our strategic path is one of building a portfolio of specialist brands which are performing well in their own right and may be assisted by our bulk buying power and our retail estate that is Stewart Travel.”

Jen Atkinson, chairman of ITC, added: “I am delighted that Villa Select has gone to the best possible home in Brooklyn Travel.

"We know the business and the team will continue to excel under the guidance and support of Brooklyn and wish the staff the very best of success in the future.”

Brooklyn Travel purchased Lapland specialist Canterbury Travel at the same time as the Stewart Travel buy-out was completed.

Stewart Travel operates 13 retail shops as well as specialising in selling “niche” holidays such as cruise, golf, Canada and Lapland.