Airbnb out of race for Wyndham’s $1bn holiday rentals business

Airbnb out of race for Wyndham’s $1bn holiday rentals business

Airbnb has reportedly withdrawn from a $1 billion chase for UK travel brands put up for sale by Wyndham Worldwide Corporation.

The room-sharing website last year submitted a takeover approach for brands including Hoseasons, James Villa Holidays and Cottages.com.

This came after they were offered fore sale by the US hotel giant behind the Ramada and Days Inn chains.

However, the Sunday Times quoted City sources as saying Airbnb — which in 2017 paid $300 million for the Caribbean villa rental company Luxury Retreats International — has not advanced to the next round of the sale.

Sources said it withdrew after “evaluating a range of factors”.

Bankers said several of the world’s largest buyout firms are now in the final stages of the auction of Wyndham’s European holiday rental business.

Some of the private equity firms bidding include US giant Blackstone, London-based CVC Capital Partners, former owner of Formula One, and the French firm PAI Partners.

Platinum Equity, a firm based in Los Angeles and run by entrepreneur Tom Gores, is also said to be in the frame.

A deal with one of the private equity firms could be announced in the next few weeks, according to the newspaper.

Airbnb declined to comment.

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