Published On: Mon, Apr 16th, 2018

Secret Escapes: Luxury holidays group aims to EXPAND as they seek new acquisitions | City & Business | Finance

Last October the firm raised approximately £80 million in cash and debt financing from Singaporean sovereign wealth fund Temasek, French venture capital group Idinvest and Silicon Valley Bank to give it the firepower to pursue takeover targets.

Its last deal was the August takeover of Czech deals website Slevomat and Saint said that Secret Escapes is likely to follow that up in the summer.

The firm operates in the UK, Asia, US and Europe, where it has identified possible takeover targets.

“Where we are in ­Europe, we see opportunities to significantly accelerate a number of our businesses. We’re looking at potential acquisitions right now,” Saint said.

Customers sign up to receive deals on luxury breaks from the firm, typically via email, and it says that it can negotiate savings of up to 60 per cent on luxury hotels.

Saint added that the unwillingness of Britons to cut back on their holidays and the need for hotels to fill their rooms should provide Secret Escapes with a degree of protection, if the economy takes a turn for the worst.

He said: “If there is a lull, it will mean that hotels will need to fill rooms and be more willing to work with us, so there should be more special deals.”

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