Wyndham Worldwide’s European business subject of takeover speculation

US-based Platinum Equity is reported to be negotiating the details of a takeover of Wyndham Worldwide’s European vacation rentals business.

The deal is estimated to be worth around $1 billion and would see the equity firm take over brands such as Hoseasons, James Villas and Cottages.com.

Platinum, which owns businesses such as the British outdoor advertising group Exterion Media, ?is said to have seen off a rival bid for the Wyndham assets from CVC Capital Partners, according to Sky News.

Wyndham, the hotel giant behind the Ramada chain, has been looking for a buyer for the European division for several months.

Blackstone, another private equity firm which looked at the deal, did not submit a final bid, according to sources close to the auction.

Banking sources cautioned? that a deal with Platinum had yet to be concluded and that the talks could still fall apart, although a deal could yet be signed in the coming days.

Airbnb was reported to be the leading bidder for the Wyndham brands, but is reported to have not been involved in the process for some time.

The Wyndham Worldwide UK operations offer holidays at more than 30,000 properties around the country. The wider European business markets homes in countries including Croatia, Greece and Italy.