Tourism Migros wants to sell Hotelplan subsidiary Interhome to HomeToGo
The Hotelplan subsidiary Interhome is expected to be sold by Migros to Germany. Hotelplan will be taken over by HomeToGo, which is listed on the Frankfurt Stock Exchange. The purchase price is in the low three-digit million range in Swiss francs.
23.01.2025, 21:09
SDA
Following a bidding process and on the basis of exclusive negotiations, an agreement has been reached with Migros on the main commercial terms of the takeover of Interhome, HomeToGo announced on Thursday.
The purchase price (enterprise value) of the transaction is expected to be in the low triple-digit million Swiss franc range, including deferred payments in the high double-digit million Swiss franc range.
HomeToGo intends to integrate Interhome, the second largest provider of vacation home rental and management services in Europe, into its own group. According to HomeToGo, Interhome has around 40,000 vacation homes in 28 countries.
HomeToGo also expects the acquisition to "significantly" improve its own profitability.
Deal not yet secured
The company estimates that if the transaction is completed on a combined pro forma basis, the HomeToGo Group's consolidated IFRS revenues for 2024 would amount to over EUR 330 million and adjusted EBITDA to over EUR 30 million.
However, the transaction has not yet been secured. As talks are still ongoing and a final purchase agreement has not yet been signed and is expected to be subject to certain closing conditions, there is no guarantee that the transaction will actually be completed, according to the statement.
What Migros will do with the rest of Hotelplan is still open. The rest of the Hotelplan Group has not yet been sold, a Migros spokeswoman told the news agency AWP on Thursday evening. Negotiations are still ongoing.
