US hospitality group Wyndham Worldwide has agreed to acquire Hoseasons from private equity firm HgCapital for £51 million.

Hoseasons offers a range of holiday accommodation including lodges, caravans and boats across the UK and Europe. The Suffolk-based company caters for more than one million holidaymakers a year and was acquired by HgCapital in 2003 for £40 million.

Stephen P. Holmes, chairman and CEO of Wyndham, says: 'The purchase of Hoseasons is a great example of how we are deploying a portion of our free cash flow to supplement organic growth with opportunistic acquisitions.'

Wyndham, which owns a chain of hotels and a rental holiday accommodation business, reported a decrease in revenue of 12 per cent to $3.8 billion in 2009.