Hoseasons owner HgCapital has dismissed speculation that it has lost confidence in the travel sector in light of the imminent departure of its leisure division head.
Ben Hewetson, who was responsible for the private equity firm’s investments in Hoseasons and Page & Moy, is leaving shortly.
The leisure division is now being headed up by Richard Matthews, who was previously in charge of the company’s consumer division and now oversees both sectors.
The move sparked industry speculation that HgCapital would be looking to sell off Hoseasons, its only remaining travel interest, and cease to invest in the travel sector.
But this week HgCapital partner Trevor Bayley said: “Absolutely not. We still very interested in investing in the travel industry. We’re sorry to see Ben go but we are a small firm and he decided to forge his future career in a different direction.”
By Bev Fearis
