Mayfair checks-in to Hotels & More buy-out
We are proud to announce the successful completion of our fourth sell-side transaction within the United Kingdom (UK). Hitz & Partner acted as the exclusive lead advisor to the shareholders of Hotels and More Ltd. (hotels & more). Funds advised by Mayfair Equity Partners have backed the management buyout of Hotels & More Ltd. from Austria’s Travel Partner GmbH.
Hotels & More is a leading inbound tour operator for group tours and Frequent Individual Travellers (“FIT”), which are sold through a network of European business partners. Specialising in the UK and Ireland, it provides a turnkey solution for its partners including accommodation, coach hire, ferry crossings, tour guides and entry to tourist attractions.
The company is the largest operator of inbound UK holidays from the German market and also operates in France. Based in Harrow, Middlesex, Hotels & More brings more than 100,000 tourists to the UK and Ireland a year across approximately 2,500 separate groups.
In 2014, 34.4 million visitors came to the UK from overseas, spending £21.8 billion according to the Office for National Statistics International Passenger Survey. The top two inbound tourism markets to the UK in 2014 by number of visits were France and Germany, where Hotels & More’s business is strongest. The UK inbound market for group holidays is worth £1.3 billion and growing at around 8% per annum. Hotels & More has opportunities to expand in its principal markets and its focus on quality and customer service means the business has long-standing relationships with the clients it serves.
Mayfair’s investment in Hotels & More will help the company grow the value of business transacted with existing clients, especially in Germany; strengthen its market reach in the German and French markets by growing client numbers; and further develop the Hotels & More proposition in markets such as Scandinavia, Spain, Switzerland and the Benelux. The inbound tour operator sector is a fragmented market where the benefits of scale have yet to be realised, creating significant opportunities for Hotels & More.
Commenting on the transaction, Mayfair’s Managing Partner, Daniel Sasaki, said:
“Our third investment operates in a sector which holds significant opportunities given the growth of the UK and Ireland as an international holiday destination. At Hotels & More we have found a highly regarded management team with a sound business plan. We’re looking forward to working with Karin and her team in applying our unique blend of operational skills and market insight in order help Hotels & More realise its full potential.”
Karin Urban, Managing Director of Hotels & More, commented:
"We are delighted to have investors that share our vision and passion for the travel industry. Ours is a fragmented market where there is an opportunity for a scale player to deliver great products and services to group and individual travellers. Hotels & More is at a pivotal moment in its development and I am delighted that in Mayfair we have the right partners with whom to implement our strategy.“