Ski, beachclubs and lakes and mountains operator Neilson is being seen as a potential asset ripe for sell-off as part of restructuring by Thomas Cook.
Other business, such as Gold Medal, which Cook bought in 2008, could also be offloaded, the Sunday Times reported.
The sell-off of the specialist operators are seen as potential ways for new chief executive Harriet Green to reduce Cook’s £1.6 billion in debts.
She is in the final stages of a review of the Thomas Cook business and recently announced plans to integrate the group’s airlines across Europe.
Analysts believe Neilson could be easily separated from the group, according to the newspaper.
A Cook spokesman said: “We are reviewing every part of our business as we aim to turn around Thomas Cook in the UK and this involves considering many options.”
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