Technology acquisition will affect travel industry
Most travelers plan their vacations months in advance, but for those last-minute travelers, websites and mobile apps that provide details for spontaneous trips are ideal solutions. Two of those companies will become even stronger, after a technology acquisition was announced earlier this week.
According to a company press release, Hot Hotels said that it will acquire the website ReallyLateBooking. Both are European-based firms and specialize in last-minute travel. TechCrunch reported that the two businesses have been in talks since April, but financial terms of the deal have still not been released.
The news source explained that ReallyLateBooking's app has been downloaded more than 300,000 times. Customers are able to see a selection of last-minute deals each day to help fill partner hotels' inventory. The prices are also at significantly lower rates.
"This acquisition will make Hot Hotels the undisputed leader of last minute mobile hotel booking in Europe," Hot Hotels CEO Conor O´Connor said in a company press release. "Two years of hard work by the founders of ReallyLateBooking have achieved a solid base of customers and a stable pattern of daily bookings."
ReallyLateBooking CEO Robert Gill agreed, saying that even though the two companies are considered competitors, his firm has always had good relations with Hot Hotels. He added that working with Hot Hotels "will dramatically improve the experience for our customers and hotel partners."
Specifically, Gill explained that Hot Hotels is run by serial entrepreneurs and the company has extensive contacts in European travel. Both of those areas will help his own business continue to provide comprehensive solutions to its customers.