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	Action
27 April 2026	Deadline for phase 1 decision in respect of Millington Travel (*)
26 April 2026	Deadline for phase 1 decision in respect of Polka Dot Travel (*)
25 February 2026	Launch of merger inquiries
12 December 2025	Initial enforcement orders
26 January to 9 February 2026	Invitation to comment

(*) Whilst the CMA will seek to determine its investigation as quickly as possible, the statutory timetable can be extended in certain limited circumstances.

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.

Published 17 December 2025

Last updated 25 February 2026 + show all updates

1. 25 February 2026

   Launch of merger enquiry, commencement notices and derogation published.

2. 26 January 2026

   Invitation to comment published

3. 17 December 2025

   First published.