Houlihan Lokey Advises Migros
Houlihan Lokey is pleased to announce that Migros has successfully reached an agreement on the sale of Hotelplan Group. DERTOUR Group will acquire the entire Hotelplan Group, with the exception of Interhome, which will be taken over by the HomeToGo Group.
Hotelplan Group, based in Glattbrugg, Switzerland, is an international travel company specialising in leisure and business travel. With 2,500 employees across 238 locations in 20 countries, it generated revenues of CHF 1.8 billion in 2024. Its business units include the iconic Hotelplan Suisse, Switzerland’s largest tour operator, and Hotelplan U.K., a differentiated collection of leading specialist tour operators. The group also owns Europe’s second largest vacation rental provider, Interhome, and business travel firms, bta first travel and Finass Reisen.
DERTOUR Group, one of Europe’s leading travel providers, is acquiring the travel agency and tour operator businesses in Switzerland, Germany, and the U.K. At the same time, the HomeToGo Group, publicly listed in Germany, is acquiring the holiday home specialist Interhome, which is ideally suited to the company’s HomeToGo_PRO B2B segment.
“The DERTOUR Group and the HomeToGo Group provide us with a good solution for the future of the entire Hotelplan Group. The two companies are ideally placed to continue driving the different business areas forward,” says Michel Gruber, the Chairman of the Hotelplan Group board of directors and Head of the Retail Department at the Federation of Migros Cooperatives. “It’s hard for Migros to part ways with Hotelplan after so many years. However, we are delighted Hotelplan has secured such highly experienced new owners who are keen to build on the strengths of the Hotelplan Group and Interhome.”
DERTOUR Group, the tourism division of the cooperative REWE Group, is a leading travel company operating well-established brands across international markets and will continue to operate the Hotelplan Group brands. HomeToGo, founded in 2014 and listed on the Frankfurt Stock Exchange, is the world’s largest vacation rental marketplace, offering more than 15 million listings globally, and will integrate Interhome into its B2B segment.
“Hotelplan Group is an iconic international travel group and rich in heritage. It has been a pleasure to support Migros in this transaction. By leveraging our deep industry knowledge and global investor network, Houlihan Lokey successfully navigated the complexities of this transaction, ultimately securing the ideal partners for both Hotelplan Group and Interhome. This deal exemplifies Houlihan Lokey’s expertise in structuring and executing intricate transactions within the travel and leisure sector,” says Tom Barnard, Director in Houlihan Lokey’s Consumer Group.
Houlihan Lokey served as the exclusive financial advisor to Migros. The transaction is subject to regulatory approval by the relevant authorities.
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