Webjet to buy SunHotels Group.
Webjet has just announced the acquisition of European online hotel provider SunHotels, with the move said to form “an important cornerstone platform for the immediate extension of product sourcing and distribution opportunities.”
Established in 2002, SunHotels has an annual turnover of about A$130 million, specialising in hotels and transfers in European resort destinations to customers mainly in Scandinavia and the UK.
SunHotels has more than 6,000 directly contracted hotels and a “fully owned and scalable technology platform,” Webjet said.
Webjet will acquire 100% of the business via a cash payment based on an agreed value of €21 million. The existing experienced management team will remain with SunHotels, while Webjet has already “moved into a position of management oversight and Board representation.”
Webjet md John Guscic said the deal meant the company is “ideally placed to laterally and vertically extend B2B operations across a number of regions in parallel with the continued development and progress of Webjet’s Zuji nacquisition throughout Asia.”
More information in today’s Travel Daily.