I doubt this is news to most members, as the details surrounding these quotes are often discussed here, but to give my post some context, this is what JRRT had to say on the matter:
"I don’t much approve of The Hobbit myself, preferring my own mythology (which is just touched on) with its consistent nomenclature – Elrond, Gondolin, and Esgaroth have escaped out of it – and organized history, to this rabble of Eddaic-named dwarves out of Völuspá, newfangled hobbits and gollums (invented in an idle hour) and Anglo-Saxon runes."
And also Christopher:
*"...The Hobbit was drawn into Middle-earth – and transformed it; but as it stood in 1937 it was not a part of it. Its significance .
