Airbnb to make a ￡700m takeover bid for Wyndham's holiday portfolio
The deal includes includes Hoseasons, a 70-year-old camping business cottages.com, James Villa Holidays, and Blackstone and CVC Capital are also interested in buying the rental sites.
Airbnb is planning a swoop on posh British holiday companies in a move that will further cement the company’s dominance in the holiday lettings market.
The ￡700 million deal would be the Silicon Valley firm’s biggest takeover to date, seeing it inherit a portfolio of holiday companies which includes Hoseasons – a 70-year-old camping business – cottages.com, James Villa Holidays and other brands with holiday lets in Greece, Croatia and Italy.
Private equity firms Blackstone and CVC Capital are also among those reported to be interested in buying the rental sites, which have been put up for sale by American hotel empire Wyndham Worldwide Corporation, which counts Travelodge and Ramada among its brands.
The company is now valued at ￡24 billion with Airbnb’s 36-year-old co-founder and chief executive, Brian Chesky, worth ￡2.8 billion.
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