Secret Escapes: Seeking New Horizons with a Fresh Ownership Adventure!

Secret Escapes, the digital travel service, has engaged bankers to consider a sale nearly 15 years following its inception.

Sky News has discovered that Secret Escapes has enlisted the investment banking firm Arma Partners to manage an auction of the business.

Insiders close to several prospective bidders indicated on Monday that the procedure was anticipated to result in new ownership in the upcoming months.

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Exclusive to members, Secret Escapes has received support from a variety of notable investors, including the Singaporean sovereign wealth fund Temasek and technology investor Chrysalis, which is listed in London.

Overall, it has accumulated hundreds of millions of pounds through debt and equity since its establishment in 2011.

During the COVID-19 pandemic, it raised approximately £40m to stabilize its finances, having previously garnered more than £100m in funding since its startup.

In its most recent fiscal year, it completed a £32m equity fundraising supported by existing shareholders and creditors, along with debt refinancing that extends maturity to July 2028.

The company possesses travel brands functioning throughout Europe, such as Secret Escapes, Travelist, and Slevomat, which operates in Eastern Europe.

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The status of any potential bidders in serious negotiations regarding a transaction remains uncertain.

Last year’s financial statements submitted to Companies House revealed a gross bookings increase of 19% to £523.8m, with its cash reserves, operating profits, and revenues all considerably stronger than the previous year.

A representative for Secret Escapes opted not to provide a statement.