Expedia, Inc. has announced an agreement to acquire a 61.6% equity position in trivago, a hotel comparison metasearch site headquartered in Dusseldorf, Germany, for total price of €477 million (approximately US$632 million, based on current exchange rates).
Expedia points to trivago's growth and strong brand as reasons for the buy in a public statement on the deal.
Trivago was launched in 2005 by Dusseldorf-based founders Peter Vinnemeier, Malte Siewert, and Rolf Schrömgens.
Expedia cites its revenue as doubling every year since 2008 as a key reason for the buy. The site expects to deliver about a €100 million in net revenue for 2012.
The deal is expected to close in the first half of 2013 pending approval from relevant competition authorities. After the deal is closed, trivago will continue to function independently at its original headquarters in Dusseldorf, Germany.
Friday, December 21, 2012
Established by the famed Sarkies Brothers in 1885, the Eastern & Oriental (E&O) Hotel in Penang is the only hotel in the heart of the George Town UNESCO World Heritage Site that possesses prime sea frontage. Today, the luxurious 228 all-suite hotel stands as the grand dame of heritage hotels, its distinctive classic elegance and grace of service enhanced with time.
For more information, visit www.eohotels.com