City sources told Sky News on Wednesday (23 August) the OTA’s owner Livingbridge had enlisted the help of global investment bank Evercore to kick off a sale in the second quarter of next year, backing down from initial refinancing plans.
Nevertheless, a Loveholidays spokesperson told TTG on Thursday (24 August) the OTA was working with Evercore to refinance the business and “support our extraordinary growth and strategy development”.
“A sale process is not on the horizon, and our focus remains on delivering for our customers, investing for growth and becoming Europe’s number one package holiday provider,” the spokesperson said.
Employing more than 250 agents, the OTA made headlines earlier this year when it said it was looking to book upwards of three million passengers this year – more than double its pre-pandemic business.
TTG has approached Livingbridge for comment.
