Secret Escapes enters year debt free after disposal of subsidiary brand

Secret Escapes Group has strengthened its balance sheet with the disposal of a subsidiary brand after reporting a dip into the red in 2024.

 

Czech-based travel brand Slevomat was acquired by local private equity firm Genesis Capital at the end of last year for an undisclosed sum, the online company revealed.

 

Slevomat was acquired by Secret Escapes in 2017 but the amount obtained from the sale was not disclosed.

 

A filing to Companies House covering 2024 financial results showed an operating loss of £500,000, down from a profit of £1.6 million the previous year while delivering underlying earnings [ebitda] of £8 million.

 

Gross bookings for the luxury travel deals and experiences business rose by 2% to £535.7 million from 2023, driven by higher average booking values as members opted for longer, premium stays.

 

Underlying revenue edged up to £104.7 million from £104.1 million the year earlier.

 

The statement said: “Following the 2024 reporting period, on 19 December 2025, the group successfully completed the strategic disposal of Kaloa International, including the Slevomat brand, to Genesis Capital.

 

“Proceeds from this disposal have been used to repay the group’s term loan and revolving credit facility. 

 

“Consequently, Secret Escapes enters 2026 entirely debt free and with unrestricted cash reserves in excess of £40 million. 

 

“This strengthening of the group’s balance sheet will support management’s focus and efforts on its core European high-growth markets.”

 

The company added: “In a macroeconomic environment defined by cost-of-living pressures, the group demonstrated the strength of its ‘luxury for less’ proposition, achieving growth across key top-line metrics for the year ended 31 December 2024.”

 

The 2024 financial review noted the successful integration of Irish business, Pigsback.com, onto the global Secret Escapes technology platform, “driving operational efficiencies and expanding the range of international deals available to the Irish market”.

 

The firm also continued investment in automation and AI opportunities to streamline the member experience and optimise marketing spend.

 

Chief executive and company co-founder Alex Saint said: "2024 was another year of resilience and strategic discipline. 

 

“Despite the ongoing competitive pressures in the marketing landscape, our ability to grow gross bookings to over £535 million demonstrates that our members remain deeply committed to luxury travel when the value proposition is right.”

 

He added: “We are also pleased to announce the completion of the sale of Slevomat at the end of 2025. 

 

“We are proud of the growth achieved in Slevomat since we acquired the business, and confident that Genesis Capital is the right partner for its next chapter. 

 

“Importantly, this divestment has enabled us to strengthen our balance sheet as we continue to execute against our growth strategy."