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Debbie Wosskow's Love Home Swap has been acquired for a reported £40m

London-based home swapping platform Love Home Swap has been acquired by US hospitality group for a reported £40m.

The news, first reported by Sky News over the weekend and confirmed by TechCrunch this morning, sees RCI, a subsidiary of the Wyndham Hotel Group, acquire the startup for the eight-figure sum in an all cash deal.

Founded in 2011 by well known entrepreneur Debbie Wosskow and her brother Ben, the platform allows people to book stays in other people’s homes around the world while at the same time making their own house available while they are away.

As part of the deal, Wosskow has confirmed she will step down as Chief Executive at the firm and opt for an advisory role, giving her more time to focus on her AllBright female entrepreneur platform that she launched last year with Anna Jones of Hearst Media.

Her brother and fellow co-founder will step up to the role of Chief Executive within the next six months.

Following the acquisition, Gordon Gurnik, President of RCI commented: “Since first pioneering the vacation exchange concept more than 40 years ago, RCI has continually found new ways to evolve and grow its own business while also propelling the exchange industry further.

“Through this acquisition we expand the exchange options we offer travelers and strengthen our footprint in key growth markets across the globe.”

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