BUSINESS NEWS


Loveholidays set to delay listing on Stock Exchange


Loveholidays is set to delay listing on the London Stock Exchange (LSE) due to the fallout from the war on Iran, according to reports. Private equity fund


Livingbridge, which acquired a controlling stake in Loveholidays in 2018 when the online agency was valued at £180 million, is looking to raise £1 billion from an initial public offering (IPO). Loveholidays, which has grown


to become the third-largest Atol holder with a licence to carry 5.01 million passengers, has been


reported as up for sale and valued at £1 billion since 2023, but has failed to find a buyer at that price. It was tipped to be the LSE’s


first major listing of the year, with an announcement expected this month. However, the Financial Times reported “a possible delay” until after Easter “given the sell-off” of shares in travel companies. Sky News reported in 2023 that


Livingbridge “plans an auction” for Loveholidays, and PwC corporate finance partner Rick Jones told Abta’s Travel Convention in 2024: “Loveholidays is very publicly coming to market looking for £1 billion.” Loveholidays declined to comment when contacted by Travel Weekly.


M&A expert says deals had been forecast to pick up ahead of war


Mergers and acquisitions (M&A) activity in travel was expected to pick up this year ahead of the war in the Middle East following a “slightly” better year for deals in 2025 than 2024. That is according to


Matt Goodbourn, M&A advisor at auditor and consultancy Grant Thornton, who told the Abta Travel Finance Conference: “Trade buyers were particularly active [last year].” He said trade acquisitions


were “good for confidence” and reported: “We’re having increasing conversations with international


buyers showing interest [in UK travel businesses].” But he added: “Many operators found it difficult [last year] and a number of deals went on pause.” Goodbourn told the


conference: “We expect another year of trade activity but also expect


more private equity activity.” However, he acknowledged:


“We probably said the same a year ago. What we didn’t see then was Trump’s tariffs. We’re optimistic this year will be better. [But] we don’t know how what is going on in Iran will play out.”


Travel spend growth ‘overtaken’ Ian Taylor


Growth in consumer spending on travel fell behind growth in other categories of discretionary spending for the first time in three years in January and February, according to the latest Barclays card-spending data. Barclays reported total card


spending grew just 1% year on year in February and non-essential spending by 1.8%, behind the consumer price inflation rate of 3.2%, although spending with travel agents continued to defy the wider trend. Overall travel spending was up


1.9% in February and spending with agents up 7% despite spending with airlines declining 6.9% year on year in the month. However, a Barclays consumer


survey on the impact of the war found 82% concerned about energy bills, 78% about inflation and 56% about disruption to travel.


travelweekly.co.uk The latest data confirmed trends


highlighted by Barclays head of client insights Rohan Kumar at the Abta Travel Finance Conference last week. Kumar reported a 1.4%


increase in card spending on travel in 2025 over 2024, noting the sector had seen “consistent growth over the last three years”. However, Kumar noted the


“considerable gap” between spending on travel and other non-essential spending in 2024 had closed last year – particularly among younger consumers – with spending on clothing rising 3.1% in January ahead of travel on 1.4% Kumar reported consumers


aged 50-plus were “driving growth” in travel, with expenditure on the sector by 25-34-year-olds down 3% year on year in 2025 and travel spending among 16-24-year-olds down 1.1%, whereas 50-64-year- olds spent 3.4% more on travel last year and those aged 65-plus


Consumer spending on travel grew by 1.4% in


January – behind a 3.1% rise in spending on clothing


6.8% more. Travel spending among those aged 35-49 was flat. London even saw a decline


in travel spending year on year in 2025 – the only UK region to see a fall, albeit of just 0.5% – which Kumar attributed to the higher costs of living in the capital. Travel agents saw a 3.3% rise


in spending last year, airlines 2.1% growth, hotels and accommodation a 1.6% increase and cruise and


ferry companies 1.1% growth. However, travel agency


transactions saw a 3.4% decline in spend per customer year on year, while airlines saw a 5.8% rise, reflecting higher fares, and hotels saw a 3.5% increase, reflecting higher room rates. Kumar noted just over 54% of


Barclays’ card customers spent on travel last year, one percentage point down on the previous year, with average spend per customer up 4.2%.


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