Wyndham to acquire LoveHomeSwap

Wyndham Worldwide will pay £40 million for LoveHomeSwap, the home exchange site set up six years ago.

Founder and chief executive Debbie Wosskow established LoveHomeSwap in 2011 and Wyndham invested £7.5 million in the company in 2015.

Wosskow has previously said: "We want to be to home exchange what Airbnb is to peer-to-peer rentals."

The new agreement will see Wyndham, which owns Travelodge, Ramada and Hoseasons, take control of the company.