Welcome Googler! If you discover this article interesting, you may well want to subscribe to our Newsletter for the most current travel news.
US on the internet travel giant Expedia has completed the $ 703 million acquisition of Australia's Wotif Group.
The total consideration of A$ 703 million was comprised of a A$ 51 million specific dividend distributed by the Wotif Group to its shareholders just before closing and A$ 652 million in cash from Expedia.
In the coming weeks, Expedia expects to work with the Wotif Group group to conclude its ongoing evaluation of the accessible long-term strategic options for the Wotif Group organizations with an eye towards strengthening the potential of the Wotif Group's brands for its consumers and partners.
In the meantime, both businesses will continue operating under a "business as usual" philosophy.
"We are thrilled to officially welcome Wotif Group and its terrific brands to the Expedia family," mentioned Dara Khosrowshahi, president, Expedia.
"This acquisition will let us to continue expanding our organization in the Asia-Pacific region and will enable Wotif Group's customers and partners to advantage from Expedia, Inc.'s international portfolio."
Wotif Group operates on-line travel brands in the Asia-Pacific area which includes, Wotif.com, lastminute.com.au, travel.com.au, Asia Web Direct, LateStays.com, GoDo.com.au and Arnold Travel Technologies.
Its multi-product portfolio focuses primarily on hotel and air, supplying customers a lot more than 29,000 bookable properties in destinations about the planet.
"This is an fascinating milestone, and an crucial 1 for the Wotif Group team," mentioned Scott Blume, managing director, Wotif Group.
"By aligning ourselves with a powerful worldwide leader in on the internet travel we have taken a essential strategic step forward in our work to revitalize the iconic brands of the Wotif Group."
Advisable
Seeking for methods to go on a trip cheaply utilizing low-cost travel destinations? Then check out these sources for 1st-rate hotel travel coupons in advance of your upcoming trip.
No comments:
Post a Comment