Mon, 13 Jun 2011 | DIVISION SALE
Education and activity travel provider Holidaybreak is mulling a sale of several subsidiaries as it looks to focus on its school trips operations.
KPMG has been asked to search for new owners for Superbreak – short-stay trip organiser – and Explore – adventure holidays provider – amongst other subsidiaries. The move will allow Holidaybreak to focus on offering residential outdoor education to school children and its PGL brand.
It is understood that the camping division, which has two brand names – Eurocamp and Keycamp, would not part of the sale and may be sold off at a later date.
Bookit and Djoser, the Dutch versions of Superbreak and Explore, may also be disposed of in the sale.
Holidaybreak’s hotels business has been hit by a 9 per cent decrease in year-on-year sales, and Explore is expected to suffer losses of £2 million mainly due to volatile trading conditions caused by civil unrest in North Africa and the Middle East.
Once concentrated on its camping business, the firm is now honing in on education. It increased its presence in the education sector by buying a 50 per cent holding in the German school trip operator Meininger in 2010.
Holidaybreak achieved sales of £121.1 million from its education business activities for 2010, with profits of £15.8 million. Its camping business, which offers family holidays in Europe, recorded revenues of £107.4 million for the same year, with profits of £11.7 million.
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