Love Home Swap bought by US hospitality giant Wyndham Worldwide for £40m
Home exchange platform founded by Startups Awards judge Debbie Wosskow will continue to run as an independent brand
Love Home Swap, the Startups 100-featured home exchange platform, has been acquired by RCI -part of US hospitality corporation Wyndham Worldwide’s family of brands – in a reported £40m deal.
Founded by Startups Awards 2017 judge Debbie Wosskow OBE in 2011, London-based Love Home Swap allows users to pay £12 a month for the privilege of either swapping homes directly with each other, or through its Swap Points system.
Love Home Swap will continue to run as an independent brand and be marketed separately from RCI, whilst benefiting from its portfolio of properties around the world, extensive resources and support.
RCI – which launched its vacation exchange concept in 1974 and now has 4,300 affiliated resorts in 110 countries – will collaborate with Love Home Swap to foster growth and provide travel benefits to their respective members.
Wosskow – who recently featured in our Who is? series – and is co-founder of female-focused peer to peer platform AllBright will remain as an advisor overseeing the transition process, whilst her brother Ben Wosskow (formerly chief commercial officer) has been promoted to managing director.
The deal follows Wyndham’s investment in the London company back in 2015, as well as Love Home Swap’s acquisition of Dutch Rival HomeForExchange in the same year.
Wosskow commented: “I’d like to thank the team and everyone involved in driving Love Home Swap forward. Dedication and hard work has yielded fantastic results in a short space of time and this is a real global success story for the UK sharing economy.
“We’re delighted to join the RCI family and are excited to work closely with them to help shape the future of the travel industry together.”
Gordon Gurnik, president of RCI, added: “Since first pioneering the vacation exchange concept more than 40 years ago, RCI has continually found new ways to evolve and grow its own business while also propelling the exchange industry further. Through this acquisition we expand the exchange options we offer travellers and strengthen our footprint in key growth markets across the globe.”
Enter the Startups Awards before Friday 15 September for the opportunity to have your business recognised by the likes of Debbie Wosskow alongside Dragons’ Den star Touker Suleyman and Oli Barrett MBE.