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Cheapflights to exit non-core sectors
Cheapflights is to offload non-core web URLs in the accommodation, holidays and short break sectors.
The travel price search and comparison site has appointed specialist travel mergers and acquisitions group StellantPartners to advise on “strategic options” for www.cheapaccommodation.com; www.cheapholidaydeals.co.uk and www.cheapshortbreaks.co.uk.
Cheapflights wants to concentrate on its flights business in the UK and US plus plans to enter continental Europe.
CEO David Soskin: “Internet flight price search and comparison is our core business and one which Cheapflights pioneered ten years ago. Our business model has been very successful not only here but also, in a relatively short time frame, in the USA. We believe that we have opportunities to replicate this success in other countries.
“We have therefore asked StellantPartners to advise us on strategic options for our successful global accommodation and UK holiday and short-break sites in order that we can focus on new core business opportunities in flights.”
Jo Allen, partner at StellantPartners, added: “The hotel, holiday package and short break sites currently generate excellent traffic and all three sites demonstrate significant potential in these fast growing markets.”
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