LONDON, September 13, 2018 /PRNewswire/ --
- Former Hotwire and Expedia president takes reins at Europe's largest manager of holiday rentals
- The group comprises of multiple leading brands including, Landal GreenParks, Novasol, Cottages.com, Hoseasons, James Villa Holidays and Friendly Rentals
Henrik Kjellberg, former president at Expedia, has been appointed group chief executive of the European Vacation Rentals business acquired by Platinum Equity from Wyndham Worldwide earlier this year.
Already an industry leader, the business is the largest manager of holiday rentals in Europe, operating in over 600 destinations in more than 25 countries through its local brands which include Landal GreenParks, Novasol, Cottages.com, Hoseasons, James Villa Holidays and Friendly Rentals. This appointment, with immediate effect, comes at a significant time for the company as it embarks on the next phase of its growth trajectory, which will see major investment in technology innovation.
The European Vacation Rentals business will also undergo a rebrand within the coming months to redefine the group's identity, alongside ongoing investment in its existing consumer-facing brands.
Kjellberg has spent more than twenty years working in global positions for travel and technology brands, including serving as president of Hotwire and Expedia Group's affiliate network (EAN), where he was responsible for Expedia Group's global affiliate and partnership deals. Kjellberg also served as president of Expedia Asia, and was chairman of the Chinese travel company eLong Inc.
Henrik Kjellberg commented: "I have always admired the success of the European Vacation Rentals business established by Wyndham Worldwide Corporation. The group and its local brands have a long-standing heritage of delivering unrivalled experiences across Europe.
"Under the new ownership, I'm looking forward to working with the leadership teams within each of the brands to capitalise on our success to date and the tremendous growth opportunities available, and to continue to deliver the kind of experiences and services our guests, homeowners and partners have come to expect from our family of brands."
Daniel Madden, Principal and head of Portfolio Operations at Platinum Equity in Europe commented: "Amongst other areas, Henrik brings a wealth of experience in Product, Technology, Customer and Partner Service, Innovation and Distribution. As an investor we will support the organic as well as acquisitive growth ambitions of the business and we look forward to partnering with Henrik on this journey."
Notes to Editors:
About European Vacation Rentals
The industry-leading European Vacation Rentals business is the largest manager of holiday rentals in Europe, with more than 110,000 units in over 600 destinations across more than 25 countries. The business operates more than two dozen local brands, which include Landal GreenParks, Novasol, Cottages.com, Hoseasons, James Villa Holidays and Friendly Rentals.
In February 2018, Wyndham Worldwide Corporation announced that it had entered into a definitive agreement for the sale of its European Vacation Rental business to Platinum Equity for $1.3 billion.
About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with $13 billion of assets under management and a portfolio of more than 30 operating companies that serve customers around the world. The firm is currently investing from Platinum Equity Capital Partners IV, a $6.5 billion global buyout fund. Platinum Equity specializes in mergers, acquisitions and operations - a trademarked strategy it calls M&A&O® - acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications, and other industries. Over the past 22 years Platinum Equity has completed more than 200 acquisitions.
SOURCE Platinum Equity