Accommodation

LoveHomeSwap to be bought by Wyndham in £40 million deal

Posted by Lee Hayhurst on
LoveHomeSwap to be bought by Wyndham in £40 million deal

Holiday accommodation sharing website LoveHomeSwap is to be sold Hoseasons’ US parent Wyndham Worldwide according to reports.

Sky News reported a deal has been reached with the global hospitality firm for a £40 million controlling stake in the company, which it already has an investment in.

Although not confirmed by LoveHomeSwap founder Debbie Wosskow, Sky News says the deal will be announced within the next 10 days.

Wyndham first invested in LoveHomeSwap in 2015 taking an undisclosed stake worth £7.5 million. The site’s other main investor is early-stage private equity firm MMC Ventures.

In 2015 LoveHomeSwap bought Dutch rival HomeForExchange taking the number of properties listed on its site to over 100,000.

Founded in 2011, the site offers a subscription service for homeowners to list their site to a global market of people looking to stay in private properties when they travel.

It is one of the leading players in the UK sharing economy and Wosskow is also the founding chair of trade association Sharing Economy UK.

Sky News reported Wosskow recently‎ set up AllBright, a funding platform that supports female entrepreneurs.

As well as Hoseasons, Wyndham Worldwide owns the Travelodge, Days Inn and Ramada hotel brands making it one of the world’s biggest hospitality companies.

It also has interests in the time share sector with RCI and accommodation rental market with James Villa Holidays and Novasol.

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