EXPEDIA has acquired online travel company Wotif Group for A$703 million (US$659.8 million) to bolster its supply of Asian inventory.
Wotif’s portfolio comprises mainly air and hotel products, and includes online travel brands in the Asia-Pacific region like Wotif.com, lastminute.com.au, travel.com.au, Asia Web Direct, LateStays.com, GoDo.com.au and Arnold Travel Technology.
It generated 3.2 million room nights in bookings for the six-month period ending December 31, 2013 to record A$593 million in total transaction value and A$76 million in revenue.
Dara Khosrowshahi, president and CEO, Expedia, said: “Wotif Group is well positioned in the Asia-Pacific region with a portfolio of leading travel brands.”
“This acquisition will allow both companies to continue driving growth opportunities by leveraging the unique strengths each brings to the table. Wotif Group will add to our collection of travel’s most trusted brands and enhance our Asia-Pacific supply, while Expedia will expose Wotif Group’s customers to our extensive global supply and world-class technology.”
The acquisition remains subject to the approval of shareholders of Wotif and other regulatory conditions, and is expected to close by 4Q2014.