Outrigger Hotels and Resorts
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Published on Tuesday, August 10, 2021

HotelPlanner, Reservations.com to merge






 


HotelPlanner and Reservations.com are set to merge and then they plan to go public through a special-purpose acquisition company (SPAC).


The merged business will take the HotelPlanner name and will have a value of about $685 million.


The public offering will be via SPAC firm Astrea Acquisition Corp.


The combined company expects about $170 million in revenue next year.


The merger is expected to be announced in the coming days.


Hotel Planner, which was founded in 2004, also owns the Meetings.com business focused brand.


It may use some of the money from the SPAC listing to compensate existing investors in the combined company although current investors will likely still own most of the business.


 


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