Airbnb drops $1bn bid to take over Hoseasons and other British brands
- Credit: Copyright: Archant 2017
Airbnb has dropped its bid to take over a clutch of UK holiday operators including Hoseasons.
News broke in December that the Lowestoft-based company could be sold to the online lettings giant, along with other holiday firms owned by parent company Wyndham Worldwide Corporation including James Villa Holidays and cottages.com.
Valued at $1bn (£722m), it would have been Airbnb's biggest deal to date.
But the Sunday Times has reported that the company will not be advancing to the next round of the sale, saying it decided to pull the plug after 'evaluating a range of factors'.
Sources told the newspaper that private equity firms including London-based CVC Capital Partners and American giant Blackstone are now engaged in an auction of Wyndham's European rental business.
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A spokesman for Hoseasons said the company would not comment on industry speculation.
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