Berlin-based HomeToGo, a marketplace for
vacation rentals worldwide, has agreed to acquire Interhome from Switzerland-based
retail giant Migros.
HomeToGo said a purchase price in the “low
three-digit million range in Swiss francs” is expected, which includes deferred
payments, but a “definitive share purchase agreement has not yet been signed.”
PhocusWire
first reported that HomeToGo and Migros were in talks last October.
Interhome is a subsidiary of the Hotelplan Group
and HomeToGo said it is Europe’s second largest vacation rental management
company with about 40,000 vacation rentals in 28 countries, with exclusive management of most of them.
In a statement announcing the deal, HomeToGo
said the acquisition would “expand its portfolio of software and tech-enabled
service solutions across the entire host-to-guest value chain.”
The company said the acquisition of Interhome will
improve its profitability and free cash flow generation, with an estimate of
2024 IFRS [International Financial Reporting Standard] revenue of more than €330
million.
Subscribe to our newsletter below
Founded in 2014, HomeToGo’s marketplace has more
than 15 million rentals from thousands of partners around the world. In 2023
the company began offering B2B software and services such as subscriptions to
partners through HomeToGo
Pro, and it has been developing and deploying
artificial intelligence solutions, such as “Super AI Sunny,” a trip
planning tool.
HomeToGo said this would be its “most significant”
acquisition to date. In December 2023, it acquired 51% of short-break
specialists KMW Reisen and Super
Urlaub, and the year prior it acquired a number of companies including Amivac in January and eDomizil in March.