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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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Learn more about : Hotelplanner ( United Kingdom ) Hotelplanner ( N. America )
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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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