WRI buys another slice of budget and youth market

Hostels of Europe has been bought by Web Reservations International (WRI), which takes online bookings for the budget and youth travel market. Dublin-based WRI already owns hostelworld.com and hostels.com, which sell nights at hostels and budget hotels. The company owns a number of websites selling adventure holidays and activities and tours for the budget, independent and youth travel market. WRI also licenses its reservations technology to affiliate websites including those of Ryanair and Lonely Planet. Hostels of Europe is based in Belgium, and was founded in 1999. It operates a websites featuring 450 hostels in Europe, including Hostelseurope.com and Hostels.net. WRI marketing director, Niamh Ni Mhir, said: “The purchase of Hostels of Europe strengthens our position as the main distribution channel for hostel beds worldwide. Europe is our largest market for hostel bookings and is a dynamic growth sector.” The details of the deal have not been disclosed. WRI says its strategy hinges on organic growth, but has not ruled out further acquisitions. Report by Ginny McGrath