Despegar.com acquiring Mexico’s Best Day Travel Group
Major Mexican travel agency firm Best Day Travel Group is being acquired by Latin American OTA Despegar.com.
It is purchasing Best Day for about $136 million.
It cements Despegar’s footprint in Mexico as about three-quarters of Best Day’s sales revenue is from the Mexico market.
Best Day’s unaudited 2019 revenue was $140 million, and online sales account for about 70% of business.
It also offers wholesale products to travel agencies via its subsidiary HotelDO and white label services for major travel brands, including exclusive partnerships with Mexican airlines.
"We are very pleased to have entered into this agreement with Best Day. This acquisition is a significant landmark given our goal to continue expanding our operations in Mexico, Latin America’s most important tourism market," said Damian Scokin, CEO of Despegar.
The transaction is expected to close during the first half of 2020.
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