Published on Monday, June 13, 2011
Holidaybreak is believed to be looking to sell off Superbreak and Explore in order to focus on its profitable education division, which includes PGL, the market leader in outdoor activity holidays for school children.
It is understood to have appointed accountants KPMG to find buyers for several of its businesses, including the short breaks specialist and adventure travel operator, according to the Sunday Times.
Holidaybreak also owns camping brands Eurocamp and Keycamp but these are not believed to be part of the sell-off, said the report.
The operator made a pre-tax loss of £19.3m during the first half of this year, £1.5m more than in 2010. Sales in it Hotel Breaks Division were down 9%.
Superbreak's sales were affected by the loss of UK airport hotel contracts with large retail travel agents, though this was described by the company as 'low margin business'. Excluding these contracts, sales were down 6% year on year.
By Linsey McNeill
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The recent insolvency of Low Cost Travel Group, one of the large players in the travel industry had a big impact on the travelers, hotels and all related players from both wholesale & retail arms. There were about 27,000 people on a holiday who had booked through the company comprised of a €200 million wholesale arm and €500 million OTA / retail arm.