The company has enlisted the help of KPMG to seek new owners “able to support the business’s high-value growth potential”.
Malvern, which is 49% owned by Indian tour operator Cox & Kings, said the move followed “recent news regarding Cox & Kings corporate financial circumstances”.
Iata earlier this month confirmed Cox & Kings (India) was suspended from its billing and settlement plan (BSP) on 28 June after defaulting on its BSP payment.
Cox & Kings Travel (UK), which operates under its own Iata licence, has since distanced itself from the Indian firm. “It is business as usual at Cox & Kings Travel Ltd (UK),” said a spokesperson.
Malvern operates trade-focused operator Super Break and direct-sell hotel booking platform LateRooms.com. Earlier this year, it debuted its new travel booking platform, Wizian.
In a statement, Malvern confirmed to TTG the group “has engaged KPMG as a strategic advisor to consult on options to best support the Malvern Group”.
“The group has today [23 July] confirmed it is pursuing a sale of the entire shareholding of the business and has already received interest from a number of parties,” said Malvern.
“The Malvern Group will continue to trade with its partners and customers through its Super Break and LateRooms brands and the innovative Wizian trips platform.”
Executive chairman Hugo Kimber added: “The Malvern Group is an exceptional mix of brands, technology and people that we are confident will shortly find a new home with shareholders who are able to support the high-value growth potential of our business.”
KPMG declined to comment when approached by TTG.
TTG has approached Cox & Kings (India) for comment.
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