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Web Reservations acquires WorldRes
In a long-rumored move, Web Reservations International (WRI) acquired the business and assets of WorldRes, the online hotel reservation network.
“It’s business as usual,” a spokesman told TravelMole.
The WorldRes business will operate as a new division of WRI and continue to use the WorldRes brand. Terms of the sale were not disclosed.
Said Web Reservations International CEO and co-founder Ray Nolan:
“WRI has built a successful and profitable budget accommodation business and this acquisition will significantly broaden our operations. We look forward to applying our unique business model to the global hotel market.”
The acquisition brings more than 35,000 hotels and 2,000 web sites in 160 countries to the WRI platform. It also adds online travel agents, tourist boards and destination companies to WRI.
“WRI will add some 1,000 distribution outlets, providing WorldRes’ member hotels the opportunity to significantly grow their business,” said Mr Nolan.
“For distribution partners, WRI will also deliver new technology providing transparency and clarity on revenue earned. We aim to reduce or remove the time consuming and costly book/stay/reconcile pay cycle for hotels and affiliates,” he added.
Web Reservations will now operate two separate business units that include:
—One hotels division focusing on online bookings and reservations technology for budget, independent and the youth travel sector through the Hostelworld.com site, according to Tom Kennedy, president and co-founder of Web Reservations International.
—Another hotels division that will focus on online hotel reservations through trade relationships with hotel and affiliate partners that will be managed by Mr Nolan.
Web Reservations was founded in 1999. It is the biggest global provider of confirmed online reservations for the budget accommodation sector, according to company officials.
It has offices in the US, Germany and Australia. Its headquarters is in Dublin.
Report by David Wilkening
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