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According to a report, Migros has hired sales consultants from a US investment bank to get rid of Hotelplan soon. Picture: Migros

Migros seeks help for Hotelplan sale

Around five months after Migros publicised its intention to sell Hotelplan, it is still looking for a buyer. According to a report, the retailer has now hired consultants from a US investment bank to push ahead with the sale.

The sell-off has begun at Zurich-based retailer Migros. In June, it sold 20 of its 37 Melectronics shops to Mediamarkt. This week it was announced that the Dosenbach-Ochsner Group (Deichmann) is taking over some of the SportX shops.

Hotelplan is also rumored to be on Migros' sales list. The specifics of any negotiations that have taken place remain a well-kept secret, as Migros has not released any status reports on the matter

As the financial portal «Tippinpoint» reports, the retailer has now sought support. The US investment bank Houlihan Lokey has been commissioned with the sale of Hotelplan.

Bloomberg quotes insiders in a report according to which the tour operator founded by Gottlieb Duttweiler in 1935 has an enterprise value of CHF 400 million. Hotelplan achieved a turnover of 1.7 billion Swiss francs last year.

The sell-off at Migros comes at an unfavourable time. The number of corporate transactions in Switzerland fell by 21 per cent in the first half of 2024 compared to the same period last year. Private equity companies, which are currently more interested in selling shareholdings than acquiring new assets, are acting as the main brakes.

(TN)

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