Loveholidays

Sector: Leisure

A technology-enabled short-haul beach holiday provider

Business Overview

  • Headquartered in the UK, loveholidays is a technology-enabled short-haul beach holiday provider
  • The company was founded in 2012 and today is the UK’s fastest growing online travel agent, with over 140 employees. Loveholidays’ technology platform is a key differentiator in its proposition

  • Through highly customisable search parameters, for example holiday type, temperature or price, loveholidays allows customers to create bespoke holidays by attributes that are important to them,rather than starting with a destination or date input

Investment Thesis

  • Differentiated customer proposition through customisable search functionality
  • Proprietary technology platform creates high barriers to entry
  • Well-established brand with a strong reputation amongst consumers measured through net promoter scores (“NPS”)
  • Large and resilient addressable market, with over £3bn spent on online packaged holiday products in 2017
  • Increasing market share for dynamic online package holiday providers
  • Significant equity cushion

Origination

  • The deal was originated through a strong relationship with the sponsor, Livingbridge, which has a strong track record of successfully growing online travel businesses
  • PCS funds acted as sole lender
  • Primary transaction