The private equity firm ECI Partners is considering a £100m sale of hotel booking company LateRooms.com.

It is understood ECI Partners has been talking to investment banks about selling the business. The banks are now pitching for the mandate to carry out a strategic review of LateRooms.com. A sale could be completed within the next 12 months, sources said.

LateRooms.com makes money by charging people a fee to book rooms across the world. It works with several thousand outlets, from luxury hotels to guest houses.

ECI bought LateRooms, based in Manchester, for an estimated £25m in 2004, when it was making profits of £2.7m on turnover of £40m. However, it is thought the company has grown significantly since then.

The deal made millionaires out of brothers Steve, Paul and Tony Walsh, who founded the business in 1999.

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