Expedia eying South America expansion with stake in Decolar.com
Having recently acquired a series of online travel firms in the US and Australia, Expedia Inc. has now turned its sights on South America.
The company has taken a minority stake in Argentina based Decolar.com.
It will pay $270 million for a stake of less than 20% according to Expedia Inc. CFO Mark Okerstrom.
Decolar is the largest online travel agency in Latin America and along with its Despegar.com branded sites, operates in 21 countries in the region.
“We will be powering their hotel supply. They are the player to be reckoned with in the region,” said Okerstrom.
A Decolar spokesman said the company will retain its identity and independence and simply formalizes an existing long term partnership between the companies.
“We are giving Expedia also value with this deal after 15 years of working in difficult markets such as Brazil, Colombia and Mexico where they see Decolar´s good performance,” the Decolar spokesperson says.
Expedia’s has recently finalized acquisitions of Travelocity and Australia based Wotif, along with the imminent purchase of Orbitz Worldwide.
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