Holiday homes

Wyndham seeks buyer for Novasol

Novasol, one of the leading holiday homes specialists on the German market, is up for sale due to a strategic split-up by owner Wyndham.

October 02, 2017
Novasol’s long-serving CEO Bernd Muckenschnabel
Photo: Novasol

US hotel group Wyndham plans to divide up into two separate companies. One will focus on hotels and the other on holiday homes and time-sharing accommodation. Wyndham operates hotel brands such as Dolce, Tryp, Days Inn, Super 8 and Ramada, along with several European holiday home brands such as Novasol, Landal Green Parks, Cottages.com and Hoseasons.

The two companies are expected to be listed separately on the stock exchange in the first half of 2018. Wyndham's chief executive Stephen P. Holmes believes the two companies will be able to grow faster as separate businesses.

However, the future of the European subsidiaries remains open at present. Holmes says vaguely that Wyndham will continue to work together in the future with the European brands "which are outstanding brands in their regional markets".

A buyer is being sought for the fast-growing holiday home operator Novasol. The company recently bought Wimdu and other holiday house portals in Europe, and is also developing large new complexes on the Baltic Sea coastline and in the Harz mountains.

According to fvw information, the investment bank contracted to find buyers has already presented itself to major competitors. Potential buyers could be financial investors or tour operators, such as the Swiss Hotelplan Group, which includes the holiday house specialists Interhome and Interchalet. Novasol CEO Bernd Muckenschnabel himself is remaining quiet about these developments.

Based in Denmark, the company sees itself as the largest supplier of holiday homes in Europe, with 47,000 holiday homes in 29 countries. Two million guests booked through Novasol in 2016. The company employs more than 1500 people and generated sales of around €350 million last year. Novasol has belonged to Wyndham since 2002.

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