The owner of European vacation-rentals business Awaze is looking for a sale, according to a media report.
U.S. private equity firm Platinum Equity created Awaze after buying a selection of rental businesses from Wyndham Worldwide in 2018. The deal was worth $1.3 billion, and its collection at the time included Novasol, Cottages.com, James Villa Holidays and Landal GreenParks.
Now Sky News has reported that Platinum Equity has appointed Goldman Sachs and Morgan Stanley to oversee a strategic review of Awaze — with a price tag of up to $2.14 billion. A sale is being sought within the next 12 months. However, in June another report suggested a sale could take place by the end of this year.
Awaze itself has been buying up other players. In 2021 it bought Bornholmtours, Amberley House and Portscatho Holidays, Quality Cottages and Quality Unearthed.
Awaze CEO Henrik Kjellberg said bookings were “holding up well over winter both in terms of volume and price,” in a Financial Times report on Monday. “Even in the event of a recession, I expect the travel industry will still perform well”.
With Airbnb among the potential suitors for the Wyndham rental brands back in 2017, could it now return to the table as the short-term rental market recovers afters the pandemic?