TUI expected to sell LateRooms
TUI is reported to be looking to offload LateRooms.com, its online hotel booking service, as it seeks to raise hundreds of millions of pounds from the sale of non-core assets.
The operator has appointed Arma Partners, a London-based advisory company, to oversee an auction of the brand, according to Sky News.
Laterooms, which forms part of Hotelbeds Group division of TUI, was launched in 1999 and sold to First Choice in 2007 in a deal valued at more than £100 million. It later became part of TUI.
The company, which has declined to comment on the sale, is expected to provide more details at a capital markets presentation next week.
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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