INDUSTRY OUTLOOK

Despegar Completes Acquisition of 100% of the Brazilian Online Travel Agency Vijanet

Despegar, Corp | June 09, 2022

Despegar Completes Acquisition
Despegar, Corp announced that it has completed the previously announced acquisition of 100% of TVLX viagens e Turismo S.A for a total consideration of approximately US$15.5 million, which will be subject to customary post-closing adjustments. TVLX Viagens e Turismo S.A is one of Brazil's biggest online travel firms. 17% of the total consideration was paid upon the deal's closure, 43% is projected to be paid in July 2022, 20 percent in June 2024 and the remaining 20 percent in June 2025, subject to any post-closing indemnification changes.

Despegar is Latin America's top online travel agency. Technology has altered the travel sector for over two decades. Despegar is constituted of a consolidated Group that comprises Best Day, Viajes Falabella, Viajanet, and Koin (the Company's fintech company), therefore becoming one of the most significant organizations in the area and able to give a customized experience to more than 29 million clients.

Spotlight

Travelers are not so fond of last-minute o ers! They prefer the excitement of organizing summer and winter holidays ahead of time. Users start searching for their summer holiday destination in January and their winter holiday destination in September.

Spotlight

Travelers are not so fond of last-minute o ers! They prefer the excitement of organizing summer and winter holidays ahead of time. Users start searching for their summer holiday destination in January and their winter holiday destination in September.

Related News

COMMERCIAL TRAVEL

Priceline Introduces Summer Sale and Expanded Loyalty Program

Priceline | June 20, 2022

Priceline is launching its Summer Sale on June 20 to help travelers save on summer vacations. It shared the most affordable destination for the 4th of July holiday. In addition, it has also expanded its VIP Loyalty program called VIP Family. "This summer, the travel industry is experiencing a significant boom, and we want to help ensure that our customers are getting the best deals, despite current economic stressors like inflation With our everyday deals, Summer Sale and VIP program we're helping fight back against inflation to make travel more affordable and accessible." -Brett Keller, CEO of Priceline With the VIP Family program, travelers can access savings three times faster. VIP members save 50% more than non-members on hotels. They can also get access to exclusive discounts, coupons and travel perks. The program is free, and all the travelers need to do is sign up to enjoy the benefits. Each member gets a private account, and three users can pool their status by creating a VIP Family. Individual family members’ completed trip totals are tallied into one status level so that the families can attain a higher status and unlock more benefits faster. The higher the status, the more the members can save. For the Fourth of July getaway, Priceline has offered the following deals: Domestic Dallas, Texas ($133) Houston, Texas ($135) Bloomington, Minnesota ($135) Charlotte, North Carolina ($148) Kissimmee, Florida ($151) International Calgary, Canada ($127) Milan, Italy ($145) Prague, Czech Republic ($146) Istanbul, Turkey ($147) Athens, Greece ($154) As a part of the Summer Sale, Priceline has these deals: Save $20 on Express Deals® hotels when spending at least $125. Code: SUMMER2022 Dates: June 20 to June 28 Save $100 on Express Deals® hotels when spending at least $500. Code: SUMMER100 Dates: From June 29 to July 4

Read More

BUSINESS TRAVEL

Two New Pebblebrook Hotels Onboard with Optii Solutions

Optii Solutions | June 13, 2022

On June 8, Optii Solutions, a market leader in hotel operations software, announced the onboarding of two hotels in the Pebblebrook Hotel Trust; Hotel Chamberlain West Hollywood and Hotel Ziggy, in their hotel operations solution. Optii will help them maximize their housekeeping efficiencies and comply with the new West Hollywood Ordinance that governs workers’ rights. Optii has a contract with another Pebblebrook group hotel- Montrose West Hollywood. It has successfully helped Montrose streamline its operations with limited staff and adapt to the Ordinance. Springboard Hospitality manages all the three hotels that are members of the Curator Hotels & Resorts Collection. The West Hollywood Ordinance came into force on January 1 and imposed limits on square footage cleaned and the number of checkouts completed by each room attendant during an eight-hour workday. If these limits exceed, the hoteliers must pay their staff twice their pay for every hour worked. This doubles housekeeping costs for hotels that do not comply with these restrictions. Optii’s housekeeping platform uses AI to allocate rooms to room attendants based on square footage efficiently. It also set limits for each attendant so that no team member exceeds the Ordinance guidelines. Optii’s platform also offers reporting on both the square footage and number of rooms that an attendant cleans to ensure compliance. A breakdown of departure cleans for each workday, as well as archived boards and data for customer life, is also provided. “Housekeeping departments represent the largest cost for hoteliers and failure to comply with the West Hollywood Ordinance can mean that these costs skyrocket. We are pleased to be expanding our relationship with Pebblebrook Hotel Trust and helping this group of hotels comply simply and easily.” -Katherine Grass, CEO, Optii Solutions Andrew Maffei, Area General Manager, Chamberlain or Hotel Ziggy, said: Our staff are our most important asset and making best use of their time is one of our top priorities. We are excited to be implementing Optii’s technology to ensure our housekeeping team is working efficiently and that we are always fully compliant with the new Ordinance requirements.

Read More

INDUSTRY OUTLOOK

Holisto to Be Publicly Listed on the Nasdaq

Holisto. | June 15, 2022

On June 13, Holisto Ltd, a leading technology-based online travel booking platform, and Moringa Acquisition Corp, a special purpose acquisition company, announced that they entered a business combination agreement that would get Holisto publicly listed on the Nasdaq. Holisto Ltd’s expected pro forma equity value will be approximately $405 million, thanks to this business combination. Moringa’s non-redeeming public shareholders can receive a pro-rata portion of a bonus pool of up to an additional 1,725,000 shares at transaction close. This would result in a merger consideration of between 1.15 and 1.6 Holisto ordinary shares for each such Moringa Class A ordinary share not redeemed. However, the ratio of merger consideration for non-redeeming shareholders will depend on the number of Moringa shares redeemed. “From the outset we were inspired by the opportunity to disrupt the large, fragmented and complex travel booking market, using advanced big data and AI technologies that enable incremental cost savings and simplicity through the ability to combine offerings from multiple sources, Our combination with Moringa and access to public markets will allow Holisto to continue to aggressively leverage our technology by scaling our platform and infrastructure and expand our customer acquisition and brand awareness.” -Eran Shust, Chief Executive Officer and co-Founder of Holisto. “We are incredibly excited to announce the merger with Holisto. Holisto is innovating with advanced technology solutions in a large, global market which is ripe for transformation for the benefit of the consumer traveler. We look forward to our partnership and opportunity to leverage our expertise as Holisto continues to rapidly scale its business.” -Ilan Levin, Chief Executive Officer and Chairman of Moringa Holisto is a tech-based online travel booking platform. It harnesses the power of advanced AI to make travel more affordable and personalized for customers. Its unique holistic view of hotel rates and plans result from multiple inventory sources, including online travel agencies, wholesalers, global distribution systems, and hotel operators, so that consumers can get the best deals on their bookings.

Read More