Booking Holdings to acquire hotel rooms distributor Getaroom for $1.2bn
Booking Holdings, a provider of online travel and associated services, has agreed to acquire Getaroom, a B2B distributor of hotel rooms, from private equity firm Court Square Capital Partners for a sum of around $1.2 billion.
Based in Dallas, Texas, Getaroom mainly caters to leisure travelers within or traveling to North America. The hotel rooms distributor is said to have over 150 affiliates.
At the closing of the deal, Getaroom will join the Priceline brand of Booking Holdings. It will partner with Priceline’s complementary strategic partnerships team and Priceline Partner Network to create a new strategic partnerships business unit.
According to Booking Holdings, the new unit will boost the B2B distribution for hotel partners, while providing a strong accommodations technology stack for affiliate partners. The deal is anticipated to grow value for its hotel as well as affiliate partners, said Booking Holdings.
Booking Holdings to acquire hotel rooms distributor Getaroom for $1.2bn. Photo courtesy of Olya Adamovich from Pixabay.
Matt Davis — CEO of Getaroom said: “The combination of Getaroom and the Priceline Partner Network will enable accelerated growth behind our shared vision of delivering a more robust solution for our customers and affiliates and greatly simplify the complexity of global distribution for our hotel partners.”
Matt Davis will head the new strategic partnerships business unit of Priceline.
Brett Keller — CEO of Booking Holdings Priceline said: “As the travel industry continues to recover from the pandemic, we are continuously looking for opportunities to better support both our partners and our customers. Over the years, strategic partnerships have played an important role in our efforts to reach more customers through new channels.
“By combining the technology and expertise of Getaroom and Priceline, we can further streamline distribution for our hotel partners and provide new and better solutions for the U.S. accommodations segment.”
The closing of the deal is contingent on regulatory approval and other customary closing conditions.