Loss making Asiarooms finally closes
Online travel agency Asiarooms has finally closed down after several years of losses.
The Singapore-based OTA had struggled in what parent company TUI Group called ‘a very competitive market.’
The company had fallen away as rivals Agoda.com, Booking.com and Expedia.com began to make big gains in Asia and even a strategy of undercutting the competition failed to improve its prospects.
TUI announced in February it was the end of the road for Asiarooms and recently began redirecting customers to its sister site Laterooms.com.
"In a highly competitive market, AsiaRooms has struggled over the years to perform in line with expectations and we have not seen the improvements needed in order to support further investment," TUI said at the time.
"Coupled with ever-changing consumer habits, this has meant that AsiaRooms no longer represents our biggest opportunity for growth.
TUI Travel acquired AsiaRooms in 2007 in a deal worth $67.5 million.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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