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Holidaybreak mulls disposals as sales fall

Specialist tour operator Holidaybreak has appointed KPMG to search for potential buyers for several subsidiaries as it seeks to focus on its education division.

Superbreak – short-stay trip organiser – and Explore – adventure holidays provider – could both be sold, as Holidaybreak centres on its residential outdoor education and its PGL brands.

However, camping division - which operated under the Eurocamp and Keycamp brands - would not part of the sale.

It may be sold off at a later date.

The decision comes at a difficult time for the organisation, which posted wider than expected losses earlier this year.

For the six months ended March 31st, headline pre-tax losses widened to £19.2 million from £17.7 million pounds last year.

Revenue fell seven per cent to £139.6 million.

Chief executive, Martin Davies, issued an upbeat statement at the time.

He said: “In the meantime, all of our businesses are being managed tightly, with a focus on cash generation, margin and cost control and we expect to perform in line with our expectations for the year ending September 30th.”