Sun, 10 Dec 2017 | BUSINESS SALE
The portfolio of European property rental sites put on the market by Wyndham Worldwide Corporation has attracted a raft of bidders eager to get into the market.
Heading the pack is online behemoth AirBnB who is believed to be particularly interested in holiday company Hoseasons, web operator Cottages.com and James Villa Holidays, all owned by Wyndham Worldwide. These established UK companies collectively send millions of Britons to local and foreign holiday destinations.
Also interested in Wyndham’s holiday sites are private equity players CVC Capital Partners and Blackstone.
Wyndham Worldwide Corporation owns the Days Inn, Travelodge and Ramada hotel chains amongst others. It has a global portfolio of 18 brands and over 8,100 hotels – more than any other company in the world – with approximately 705,700 rooms in over 80 countries and 2016 revenues of $1.3 billion.
It recently decided to split itself into two distinct businesses; one purely owning hotels, the other running timeshare operations. As the European villa rentals business does not fit neatly into either camp, the company has hired Deutsch Bank to sound out potential buyers.
AirBnB has been on a fast-track acquisition spree of late, with its most notable 2017 purchase being Canadian villa rental business Luxury Retreats International, which it picked up for $300 million. Last year AirBnB snapped up AdBasis, an ad testing tools company and Accomable, an accommodation marketplace for travellers with disabilities. It has also taken over German lookalike Accoleo, crowdfunding start-up Tilt, city guide NabeWise, and Q&A platform Localmind.
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