The sale of Hotelplan is expected to go through in the first quarter of this year, having been held up awaiting regulatory sign-off, according to Swiss parent Migros.
The German Dertour Group, which owns Kuoni parent Der Touristik, is expected to acquire the Hotelplan Group alongside Berlin-based accommodation rental platform HomeToGo.
Hotelplan was put up for sale by Migros last February as the group restructured to refocus on its core businesses in Switzerland, where it is a major retail and financial services co-operative.
Hotelplan Group comprises not just Hotelplan UK and specialist operators Inghams, Explore, Santa’s Lapland and Inntravel, but also Switzerland’s largest travel company, Hotelplan Suisse, travel management companies Finass Reisen and BTA First Travel and holiday rental business Interhome.
Dertour, a subsidiary of German retail giant Rewe, is expected to acquire Hotelplan Group, then sell on Interhome to HomeToGo.
Dertour acquired Kuoni, then a Swiss company, 10 years ago.
Rewe chief executive Lionel Souque confirmed in September that Dertour was “looking at Hotelplan” and expressed confidence a takeover would be signed off by competition authorities.
In an interview with Swiss newspaper SonntagsBlick in December, Migros chief executive Mario Irminger explained “a few official clarifications are still needed” from regulatory bodies, including in the UK, noting: “In Britain, a change of ownership in the travel industry requires official authorisation.”
Irminger declined to disclose details of the buyers or progress of negotiations, but the bigger regulatory issues could be in Switzerland where a Dertour takeover could give the company about 40% of the Swiss tour operator and travel retail market.
The Migros chief said the sale, originally due to be completed by the end of 2024, would “probably not be communicated until the first quarter of 2025”.
Hotelplan is expected to be sold for CHF140 million to CHF200 million (£125 million to £178 million), but Irminger insisted the deal would not be based solely on price, saying: “We try to find the best possible solution for customers and our employees.”
The Hotelplan Group, headed by chief executive Laura Meyer, reported CHF1.7 billion (£1.6 billion) in turnover for 2023. Hotelplan UK, led by chief executive Joe Ponte, recorded revenue of £212 million in the same year.