Web Reservations International has acquired HostelBookers.com
Web Reservations International Limited (WRI), the Ireland-based company engaged in providing technology, distribution, and marketing solutions, a portfolio company of Hellman and Friedman LLC, a US-based private equity firm, has acquired HostelBookers.com Ltd. (Hostel), the UK-based company engaged in providing online hostel and hotel booking services, for US$131 million. This acquisition is in line with WRI's strategy to be the fastest-growing online provider of great value accommodation.
WRI, founded in 1999, with headquarters in Dublin, has representative offices in Shanghai, Sydney and São Paulo and is engaged in providing technology, distribution and marketing solutions to accommodation and other travel suppliers worldwide through a network of owned sites and affiliate partners. WRI delivers online reservations to over 35,000 properties in 180 countries from hostels to budget hotels, B&Bs, guesthouses, campsites and apartments. WRI has developed award winning websites including hostelworld.com, hostels.com and bedandbreakfastworld.com, and has successful affiliate relationships with many of the world’s leading brands.
Hostel provides online hostel and hotel booking services worldwide, providing customers with a wide range of accommodation, from hostels, camping and self-catering apartments to guesthouses and budget hotels.
Oaklins' team in Ireland advised the buyer, providing significant input to the management team regarding the valuation, deal structure and negotiation tactics. The team also added value during the later stages of the transaction and as legal documentation was being prepared.
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