United Kingdom
United States
Asia Pacific
Expedia looks to acquire Australian travel group Wotif
Online travel giant Expedia said it will acquire Brisbane, Australia based OTA Wotif.com Holdings in a deal worth around US$658 million.
The purchase includes all Wotif Group travel brands in the Asia-Pacific region including wotif.com, lastminute.com.au, travel.com.au, Asia Web Direct and LateStays.com.
Wotif brands focus mainly on hotel and flight bookings and offers about 29,000 properties in worldwide destinations.
"Wotif Group is well positioned in the Asia-Pacific region with a portfolio of leading travel brands," said Expedia CEO Dara Khosrowshahi.
"It will add to our collection of trusted travel brands and enhance our Asia-Pacific supply."
Expedia’s proposed A$3.30 ($3.09) is a 30% premium on the average trading price over the last week and the Wotif board has recommended shareholders accept the offer.
Wotif shares jumped 25% in early trading, following the announcement.
Founders Graeme Wood and Andrew Bice, who have a combined 35.5% stake in the company, have agreed to sell their shares to Expedia.
Wotif chairman Dick McIlwain said he believes it is the best way to maximise shareholder value "after having carefully assessed the changing dynamics of the markets and the uncertainties and risks that we would face if we were to continue as an independent company."
TravelMole Editorial Team
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.
Tony from Gatto’s Pizza on Columbus’s Unique Pizza Trail
Sophia Hyder Hock on Global Social Inclusion in Tourism
Sustainable Tourism: Don Welsh on Community Values and Global Collaboration
Jane Cunningham: Enhancing European Engagement in Tourism
Kristin Dunne: Navigating Destination Strategy
Revolutionizing Mobile Connectivity: Boris Bijlstra on HUBBY eSIM
Capturing Glasgow’s Vibrancy: An Interview with Susan Deighan, Chief Executive of Glasgow Life
Lebua Hotel & Resorts: Rajan Khurana on Hospitality and Bangkok’s Charms
Sustainable Tourism and Growth: Insights from Chiravadee Khunsub from Tourism Authority of Thailand
Revolutionizing Travel: SmartSIM USA’s Dale Takio Unveils the Power of E Sims
TravelMole Interview with Hishan Singhawansa, Deputy CEO of Cinnamon Hotels & Resorts, Sri Lanka
Unveiling the Essence of Magari Tours: A Dive into Authentic Italian Experiences
EU airports bring back 100ml liquid rule
British Airways passengers endure 11-hour 'flight to nowhere'
CLIA: Anti-cruise demos could cause itinerary changes in Europe
Co-pilot faints, easyJet flight issues ‘red alert’
Gatwick braces for strike