eDreams Odigeo has acquired the hotel search and booking website budgetplaces.com, a Barcelona-based online business that provides users with accommodation options worldwide.
About Edreams
Edreams is an application based in Barcelona, which allows you to book cheap flights and hotels, rent a car and organise your holidays.
The company went public in 2014 at a price of €10.25/share, but that year was not good for the company and its stock market value plummeted, ending the year below €2/share. The company went from being worth €1.075M to €189M.
In 2015 the company managed to increase its sales by 51% and its profitability grew by 5%, this had positive effects on the stock market which gradually recovered. Edreams is currently trading at a price of 3.15.
In 2016 Edreams decided to sell its Travellink-branded corporate travel division in Germany, Sweden, Finland, Norway and Denmark to the Australian group Flight Centre Travel.
About Budgetplaces.com
Founded in Barcelona in 2003, budgetplaces.com makes it easy for travellers from all over the world to access centrally located hotels. The online site records more than 200,000 bookings a year and handles more than 55,000 overnight stays each month.
To this end, the company works with more than 7,500 hotels, hostels, bed & breakfasts and directly contracted flats worldwide.
Purchase data
The acquisition will provide eDreams Odigeo and its brands with access to the most innovative technology and product diversification in line with the company's business strategy.
The takeover has caused eDreams to grow in the stock market.
Other operations in the tourism sector in Spain
In recent months, there has been a wave of mergers and acquisitions in the tourism sector, both internationally and nationally.
On the international scene, as we told you a few days ago, the China Shiji bought ReviewPro for €26M.
This company proposes applications for Online Reputation Management (ORM) and Hotel Satisfaction Surveys (GSS), which allow hoteliers to gain a better understanding of their strengths and weaknesses.
In addition, British GTA offering services for the tourism sector has bought the Mallorcan MTS Globe.
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