News

MYTRAVEL has put its entire US operation on the market in a move to further reduce its mountain of debt.

The sell-off comes as the operator revealed the disposal of its 70-apartment Oasis Lakes timeshare accommodation in Florida for £12.7 million.

It is believed documents detailing financial data on its US businesses have already been circulated to possible bidders, who have 10 days to make indicative offers.

Sources said the company could raise more than £185 million, largely through the sale of Travel Services International, a Florida-based operation with interests in cruise, hotel, flights and car rental market. MyTravel paid £240 million for TSI in 2000.

The operator declined to comment.