Apartment-sharing website Airbnb Inc. is the front-runner in a US$1 billion deal to acquire Wyndham Worldwide Corp.'s European villa rentals division, The (U.K.) Times reported Dec. 10.
If the deal goes through, it will be the Silicon Valley titan's biggest takeover deal ever, the paper added.
The villa rentals unit houses British holiday operators that let out villas across Europe, including Hoseasons, James Villa Holidays and cottages.com, as well as other brands that let homes in Greece, Croatia and Italy.
While sources have suggested that Airbnb could issue the most competitive bid, Blackstone and CVC Capital Partners are also in the running, The Times said.
After announcing a spinoff of its Wyndham Hotel Group into two stand-alone companies during its second-quarter earnings, Wyndham said it will explore strategic alternatives for its European rental brands to "fully realize their potential."
The company has hired Goldman Sachs and Deutsche Bank to market its villa rentals business, in a decision which it considers to be the result of a wider pivot in its strategy.
Additionally, PJT Partners is said to be advising Airbnb on the bid.
