Cruise operator’s first leap for outside cash

The travel sector is bubbling with dealmaking activity in recent months, which
has been welcomed with open arms by one family. Dominic Speakman, founder of
luxury travel company Destinology, sold his business to newly-floated over
50s company Saga for £20m earlier this month.

It has since emerged that his father, David Speakman, has hired bankers at
Rothschild to sell his leisure business, Travel Counsellors, for an
estimated £100m.

Travel Counsellors, which started 20 years ago, has more than 1,200 agents
worldwide. The company has developed its own in-house technology platform
that allows agents to build tailor-made holidays.

Private equity businesses are said to be circling travel companies that have
adapted away from bricks-and-mortar travel agents to online meta-searches.

Cheapflights owner Momondo Group has hired corporate finance boutique Arma
Partners to explore a sale, which could value the business at around £150m.

Lastminute.com, the original dotcom darling founded by Baroness Lane-Fox and
Brent Hoberman, is also working with bankers at Houlihan Lokey on an auction
of the business.

Private equity firm Inflexion is also considering a £200m flotation of its
short-haul travel website, On the Beach.