Lastminute.com is to be put up for sale as Sabre Holdings looks to offload the travel firm.
Sabre has appointed bankers at Houlihan Lokey, an advisory firm, to oversee an auction, and has already begun sounding out potential buyers, reports the Sunday Times.
Prospective buyers could include private equity firms or rival online travel groups such as Expedia.
Sabre has four main divisions, with Lastminute operating as a subsidiary of Travelocity, Sabre’s group of travel e-commerce businesses.
Despite spending substantial amounts on marketing and advertising, Lastminute’s performance has been described as ‘underwhelming’.
It has struggled to make an impact elsewhere in Europe with its biggest market share in the UK and France.
Analysts say that Travelocity failed to integrate Lastminute effectively or to build the network of hotels or other partners to which it has access during a period when some rivals have expanded aggressively.
A spokesman for Sabre said: "We are always reviewing options to make our technology company as successful, relevant and innovative as possible. If we have news to share, we commit to doing so quickly and transparently."
