CMA Investigates Hays Travel Merger

UK CMA Cases

Filed December 17th, 2025

Detected February 26th, 2026

Summary

The UK's Competition and Markets Authority (CMA) has launched merger inquiries into Hays Travel's acquisitions of Polka Dot Travel and Millington Travel. Initial enforcement orders have been served, and phase 1 decision deadlines are set for April 2026.

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What changed

The Competition and Markets Authority (CMA) has initiated merger inquiries into Hays Travel Limited's completed acquisitions of Polka Dot Travel Limited and The Independent Travel Company Limited (trading as Millington Travel). The CMA has served initial enforcement orders on the parties involved and has set statutory deadlines for phase 1 decisions in April 2026. The investigation falls under the UK's competition law framework for mergers.

This action signifies a substantive regulatory review of the transactions. Hays Travel and the acquired companies must comply with the terms of the initial enforcement orders, which typically restrict further integration or divestment until the CMA's review is complete. Affected parties and interested third parties were invited to comment on the potential impact on competition in the UK market. Non-compliance with enforcement orders can lead to penalties.

Source document (simplified)

Hays / Polka Dot and Hays / Millington merger inquiries

The Competition and Markets Authority (CMA) is investigating the completed acquisitions by Hays Travel Limited of Polka Dot Travel Limited and The Independent Travel Company Limited (trading as Millington Travel).

From: Competition and Markets Authority Published 17 December 2025 Last updated 25 February 2026
— See all updates Case type: Mergers Case state: Open Market sector: Recreation and leisure Opened: 17 December 2025

Phase 1

Statutory timetable

Phase 1

Launch of merger inquiries

25 February 2026: The CMA announced the launch of its merger inquiries by notice to the parties.

Commencement notice Polka Dot (PDF, 86KB) (25.2.26)
Commencement notice the Independent Travel Company (Millington) (PDF, 85KB) (25.2.26)

Invitation to comment: Closed

26 January 2026: The CMA is issuing this ‘invitation to comment’ to allow interested parties to submit to the CMA any initial views on the impact that the two transactions above could have on competition in the UK. The CMA has not yet launched its formal investigations into these transactions. This invitation to comment is the first part of the CMA’s information-gathering process.

To assist it with this assessment, the CMA invites comments on the transactions from any interested party.

Pre-notification

The CMA has received the necessary information from the parties to commence pre-notification.

Initial enforcement order

16 December 2025: The CMA has served initial enforcement orders under section 72(2) of the Enterprise Act 2002 on Hays Travel Limited, Polka Dot Travel Limited and The Independent Travel Company Limited (trading as Millington Travel).

Initial enforcement order (Hays-Polka) (PDF, 212KB) (17.12.25)
Initial enforcement order (Hays-Millington) (PDF, 240KB) (17.12.25)

Amendments / consents granted

Derogation letter 18 February (PDF, 276KB) (25.2.26)

Contact

Please send written representations about any competition issues to:

hays.polkadot.millington@cma.gov.uk
Principal Case Officer: Seamus O’Byrne-Inglis, seamus.obyrne-Inglis@cma.gov.uk, 020 3738 6967
Case Officer: Shivani Malik, shivani.malik@cma.gov.uk, 020 3954 8481
Case Officer: Titilope Adekunle, titilope.adekunle@cma.gov.uk, +4416 1938 0906

Privacy notice

Your name and contact details are your personal data. In collecting, receiving, storing, accessing and using your personal data, the CMA, as controller, is processing your personal data. The CMA processes personal data in accordance with data protection law. The CMA is processing your personal data so that it can contact you again, should it need further help or information from you, in order to carry out its merger work under Part 3 of the Enterprise Act 2002. For more information about how the CMA processes personal data and your rights relating to that data, please see our Privacy Notice.