lastminute.com group announces the acquisition of hotelscan to expand its metasearch business into other verticals
OREANDA-NEWS. lastminute.com group, a European leader in the online travel and leisure industry, today announced the acquisition of hotelscan to diversify its metasearch value proposition.
Founded in 2012, hotelscan has created a search engine for Hotels, Bed & Breakfasts, Hostels, Apartments and other types of accommodations, to help people make the best choice for their travel experiences all around the world. Its daily updated database of around 1.3 million properties with data from over 100 online booking website provides travelers with relevant contents to easily find room availability and definitively save money.
hotelscan will bring cutting edge technology, inventory and capabilities to help lastminute.com group make a further step ahead on its metasearch value proposition by creating business and organizational synergies with Jetcost brand, which is now primarily focused on flight.
Jetcost, one of the major European metasearch, is confirming strong momentum after 4 years of steady and profitable growth. It is one of the few examples in Europe able to combine tremendous revenue growth rate (nearly +100% in 2016) and high operating margins (EBITDA margin above 20%).
Under the terms of the agreement, lastminute.com group, acquired all assets of hotelscan. The transaction won’t have any material impacts on the Group’s Profit & Loss Statement and Balance Sheet in 2017. For 2018, it is expected to contribute to a sustainable growth of the metasearch business. More details will be disclosed at the release of FY2017 results early 2018.
lastminute.com is among the worldwide leaders in the online travel industry and operates a portfolio of well-known brands such as lastminute.com, Bravofly, Rumbo, Volagratis and Jetcost. Every month, the Group reaches across its websites and mobile apps (in 17 languages and 40 countries) 43 million users that search for and book their travel and leisure experiences.