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Associated Newspapers Selling Off Its Stake In Hotels4U

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Here’s an unusual thing – a newspaper selling a listings website. Or part of one, at least. DMGT’s Associated Newspapers, which itself has snapped up several classifieds site to bolster its ad base in the last couple of years, has appointed an investment bank to study strategic options to sell its 40 percent stake in Hotels4U, reckons. The deal’s all but done and private equity house Lloyds Development Capital is in pole position, the paper says, in what looks to be the company’s last-minute attempt to seek further bidders. The price is said to be £30 million. The site claims to offer flexible commission structures to travel agents. Another 40 percent is owned by Haim Perry. Pre-tax profit last year was £2.1 million on £47 million turnover.