Online player expresses interest in buying LateRooms

Tuesday, Aug 02, 2022 0

The CEO of Meetings.com has expressed interest in buying Laterooms.com and has already spoken to administrators KPMG.

Laterooms.com ceased trading on Thursday after parent company Malvern Group collapsed.

On Friday morning, KPMG was appointed, with joint administrator Tracey Pye saying the administrator was seeking buyers for the companies and their assets

Meetings.com CEO Bas Lemmens said Thursday’s announcement that the company had ceased trading came as a surprise.

Meetings.com secures hotel accommodation, meeting space, conference venues, and hospitality services for clients.

Lemmens said: "We spoke to LateRooms a month ago and we wanted to do business with them. It was a shock to hear the news.

"I have contacted the administrators KPMG and we think we have to move fast.

"I expect there will be other companies interested, but it depends on whether it fits with their portfolio. I always say you can buy a company but have to know how to run it and quickly turn it around.

"We think it will be good for our portfolio and we are having another conversation with KPMG."

Lemmens is a co-founder of Booking.com, which was sold to Priceline. He then worked at Ebookers before the company was acquired by Travelport.

"I understand the model very well," he added. "I will see what they want to do and what is on the table. If it makes sense to buy them, then we will make an offer."

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Lisa

Lisa joined Travel Weekly nearly 25 years ago as technology reporter and then sailed around the world for a couple of years as cruise correspondent, before becoming deputy editor. Now freelance, Lisa writes for various print and web publications, edits Corporate Traveller’s client magazine, Gateway, and works on the acclaimed Remembering Wildlife series of photography books, which raise awareness of nature’s most at-risk species and helps to fund their protection.


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