Booking Holdings to buy air booking specialist Etraveli

Booking Holdings plans to acquire global flight booking provider Etraveli Group from CVC Capital Partners for approximately 1.6 billion euros ($1.8 billion).

Under the agreement, Etraveli Group will maintain its headquarters in Sweden as well as its current management team. Etraveli will operate as an independent business under the Bookings Holding umbrella.

According to Booking Holdings, the company is already a partner of and helps power its flight product. 

The acquisition is subject to regulatory approval.

  • From the archives: William Shatner reminisces on 20 years as Priceline pitchman

“As international air travel rebounds from the impact of the pandemic, we look forward to building upon our existing relationship with Etraveli Group to make the travel booking experience easier and more seamless to support our partners and customers,” Booking Holdings CEO Glenn Fogel said in a statement.

Earlier this month, Booking Holdings announced plans to acquire Getaroom, a business-to-business hotel room distributor, for around $1.2 billion from Court Square Capital Partners. 

Getaroom, based in Dallas, has more than 150 affiliates and will be rolled into the Priceline brand. CEO Matt Davis will head Priceline’s new Strategic Partnerships business unit. 

The Getaroom acquisition also is subject to regulatory approval.

Source: Read Full Article