Secret Escapes has acquired part of Malvern Group’s failed LateRooms business.
LateRooms parent Malvern, which also owned operator Super Break, collapsed on 1 August.
A spokesperson for administrator KPMG on Monday (30 September) confirmed to TTG reports members-only luxury hotel and holiday discount Secret Escapes had acquired assets arising from the group’s failure.
These amount to “intellectual property rights, business information and social media accounts” according to a new report by Malvern’s administrators.
According to the report, Secret Escapes parted with £750,000 for the various assets.
It is unclear what Secret Escapes plans to do with the IP acquired from LateRooms.
TTG has approached Secret Escapes for comment.
Malvern Group collapsed after Cox & Kings (India), which owned 49% of the business, withdrew funding.
This was despite efforts by the group to find a buyer, which involved instructing KPMG to fast-track a sale, resulting in the demise of Super Break, LateRooms.com and Malvern Travel Technology Limited.
Cox & Kings (India) is a wholly separate business to Cox & Kings (UK).