globenewswire | August 17, 2023
Mondee Holdings, Inc. the high-growth, travel technology company and marketplace, with a portfolio of globally recognized platforms in the leisure and corporate travel sectors, today announced the acquisition of Skypass Travel, Inc. (“Skypass”), a global full-service retail and wholesale provider of corporate, leisure, and humanitarian travel, based in the Dallas, Texas area.
The acquisition of Skypass supports Mondee's ongoing expansion and diversification endeavors, encompassing markets that serve both personnel and affiliates from international corporations, small and midsize businesses (SMBs), as well as humanitarian organizations. Skypass maintains domestic offices in the Dallas, Texas area and Austin, Texas. Furthermore, it boasts a global footprint through its international offices located in Latin America (LATAM), Mexico, Canada, and India.
Skypass achieved a gross revenue of $45 million and adjusted EBITDA of $4 million, representing a margin on net revenue of approximately 60%, in 2022. At closing, Mondee paid a consideration of approximately $15 million, comprised of cash and Mondee common stock priced at $10 per share. Additionally, the agreement allows for a potential future earn-out opportunity of shares of Mondee common stock, contingent upon the achievement of specified annual adjusted EBITDA growth targets.
With a 35-year operating history, Skypass enjoys a leading position in the international corporate travel sector. Its focus is directed toward providing travel services to sizable international consulting firms and SMBs. In addition to air travel and lodging, Skypass extends its services to encompass cruises, vacation packages, and humanitarian travel, catering to the personnel, associates, and the wider retail travel demographic.
Following the successful acquisitions of Consolid, Orinter and Interep, Mondee is poised to strategically advance the distribution of Skypass's travel-related offerings. Skypass’s expansion may be facilitated through Mondee’s extensive network, which comprises over 65,000 travel experts and a membership of 125 million individuals within closed groups. Furthermore, the acquisition increases Mondee’s reach of local, regional and global content.
Mondee's strategic approach involves harnessing its exclusive AI-Powered Travel Marketplace and cutting-edge technology. Simultaneously, the Company intends to introduce enhancements in services that may target Skypass’s clientele and generate additional revenue, including FinTech solutions and supplementary services. Moreover, Mondee is committed to streamlining expenditures across its global operational framework, with the aim of realizing substantial synergies in both top-line and bottom-line performance.
Mondee’s Founder, Chairman, and CEO, Prasad Gundumogula, stated, “We are thrilled to extend a warm welcome to Victor Abraham, CEO of Skypass, and his experienced management team as valued members of the Mondee family and look forward to helping provide their customers with access to our AI-Powered Travel Marketplace, as well as additional products and services. We have every confidence they will continue to grow the business actively within their served markets. This acquisition underscores our commitment to diversifying our distribution to SMBs and international corporate accounts along with geographical expansion into India, Mexico, and LATAM.”
Skypass’s CEO Victor Abraham, shared, “The entire Skypass team is excited to join the Mondee family and work towards unlocking the global growth potential of our combined offerings and capabilities. We look forward to leveraging Mondee's cutting-edge AI-Powered Marketplace and industry-leading expertise to enhance our customers' travel experiences. With our shared commitment to innovation and customer satisfaction, we are confident that together we can redefine the travel industry.”
Founded in 2011,Mondeeis a travel technology company and a modern travel marketplace based in Austin, Texas. The Company operates 17 offices across the United States and Canada and has core operations in India, Thailand, and Greece. Mondee is driving change in the leisure and corporate travel sectors through its broad array of innovative solutions. Available both as an app and through the web, the Company’s platform processes over 50 million daily searches and generates a substantial transactional volume annually. The Mondee Marketplace includes access to Abhi, the most powerful and only fully-integrated AI travel planning assistant in the market. Mondee’s network includes approximately 65,000 leisure travel advisors, freelancers and influencers, 500+ airlines, and over one million hotels and vacation rentals, 30K rental car pickup locations, 50+ cruise lines. The Company also offers packaged solutions and ancillary offerings that serve a global customer base.
businesswire | August 28, 2023
Selina Hospitality PLC ("Selina"; NASDAQ: SLNA), an emerging lifestyle and experiential hospitality company serving millennial and Gen Z travelers, is proud to announce a global corporate brand partnership with Globant (NYSE: GLOB), a digitally native company focused on reinventing businesses through innovative technology solutions. Launched on August 17th, this thoughtfully constructed cultural alliance offers unique benefits and enhanced travel experiences at Selina's locations worldwide for Globant's vast network of 27,000 employees (“Globers”), as well as Globant alumni, their friends, and family.
At the heart of Globant lies the individual journey of each Glober. This partnership, acknowledging Globers' shared love for exploration and discovery, aligns with Globant's dedication to fostering unique personal experiences. In tandem with Selina, a leading brand in experiential hospitality, the partnership aims to extend unforgettable experiences that transcend boundaries. The alliance offers Globers exclusive hospitality discounts, encouraging adherence to Globant's core values, wherever they travel.
“In our rapidly globalizing world, professional expectations are shifting. Today's workforce seeks more than just comfortable accommodations with standard workspaces. They are increasingly drawn to authentic experiences, a sense of community, and a connection with local culture,” states Sam Khazary, Executive Vice President and Global Head of Corporate Development of Selina. “In partnership with Globant, we rise to meet these evolving needs, positioning Selina as a gateway to unique local experiences tailored to the Globant community.”
This innovative program, embracing over 27,000 Globers and the vast Globant Alumni network, serves as a portal to an array of bespoke Selina benefits. With access to preferred rates for our globally dispersed accommodations, Globers can immerse themselves in the breadth of Selina's curated experiences, network of co-working spaces, wellness Mantra by Selina retreats, and the unique explorations of all our offerings.
This partnership caters to diverse preferences, from global cities to remote destinations, luxury suites to glamping tents. Benefits include exclusive discounts on local tours, packages, and on-site restaurants, as well as access to recreational activities, wellness areas, and Selina events worldwide.
“Selina is more than a hospitality company; we have established a global platform designed for remote working professionals and digital nomads,” adds Khazary. “In a competitive landscape where businesses are vying to attract and retain top talent, our alliance with Globant fortifies our commitment to transforming traditional corporate benefits, asserting Selina as a prominent player in experiential corporate travel.”
“At Globant, our mission is to forge strategic alliances that serve as powerful catalysts for our Culture's growth, scalability, and impact. By crafting extraordinary and meaningful experiences, we aim to make each Globers' journey feel as exceptional as they truly are. As we unite our values and foster stronger engagement, we embark on #TheEpicalJourney, redefining possibilities,” said Globant’s People Experience Director, Pablo Bumaschny. “Our partnership with Selina stands as a testament to our commitment to innovation, as their customer demographic seamlessly resonates with ours, making this alliance a harmonious stride towards the future we envision.”
The collaboration between Selina and Globant sets a new precedent for each company, demonstrating how businesses can creatively enhance the value proposition for their employees. “We're introducing a new standard that marries hospitality and corporate benefits to empower the modern workforce,” says Khazary. “By extending these opportunities to Globant's employees, alumni, and their network, we aim to cultivate professional interaction, cultural exchange, and access to inspiring workspaces, enhancing job satisfaction, employee motivation, and ultimately, Globant's overall success.”
The shared vision for the future between Selina and Globant fortifies this partnership as a key step in shaping how businesses support and reward their talent. “This is more than a partnership; it's a mutual commitment to fostering community spirit, nurturing talent, and enhancing professional growth,” concludes Khazary. “We're eager to welcome the Globant community and invite them to join us on this transformative journey, experiencing first-hand the benefits of community-based experiential travel that Selina champions.”
We are a digitally native company that helps organizations reinvent themselves and unleash their potential. We are the place where innovation, design, and engineering meet at scale.
We have more than 27,000 employees and we are present in 25 countries and 5 continents working for companies like Google, Electronic Arts and Santander, among others.
We were named a Worldwide Leader in AI Services (2023) and Worldwide Leader in CX Improvement Services (2020) by IDC MarketScape report.
We were also featured as a business case study at Harvard, MIT, and Stanford.
We are active members of The Green Software Foundation (GSF) and the Cybersecurity Tech Accord.
About Selina Hospitality PLC.
Selina is one of the world's largest hospitality brands built to address the needs of millennial and Gen Z travelers, blending beautifully designed accommodation with coworking, recreation, wellness, and local experiences. Founded in 2014 and custom-built for today's nomadic traveler, Selina provides guests with a global infrastructure to seamlessly travel and work abroad. Each Selina property is designed in partnership with local artists, creators, and tastemakers, breathing new life into existing buildings in interesting locations in 24 countries on six continents – from urban cities to remote beaches and jungles.
prnewswire | August 21, 2023
Brittain Resorts & Hotels is thrilled to announce its recent recognition as the only hospitality management company named one of the "Best Places to Work in South Carolina for 2023." This prestigious award highlights the company's unwavering commitment to fostering a positive and enriching work environment for its team members.
The Best Places to Work in South Carolina award is a testament to Brittain Resorts & Hotels' dedication to creating a workplace that prioritizes team member well-being, professional growth, and a strong sense of community. With a deep understanding that happy team members lead to exceptional guest experiences, the company has consistently invested in initiatives that promote a healthy work-life balance, open communication, and a culture of inclusivity.
"We are extremely proud to receive this esteemed award, which underscores our ongoing efforts to provide our team members with a fulfilling and supportive work environment," said Melissa Bilka, Vice President of Team Member Services at Brittain Resorts & Hotels. "Our team members are the heart and soul of our company, and we are deeply committed to fostering a workplace where they can thrive both personally and professionally."
Brittain Resorts & Hotels' dedication to associate development is exemplified through its comprehensive training programs, mentorship opportunities, and career advancement pathways. The company believes in recognizing and celebrating the unique talents and contributions of each team member, encouraging a collaborative and innovative atmosphere.
The award also reflects Brittain Resorts & Hotels' commitment to giving back to the local community through various charitable initiatives and volunteer programs. The company's core values of integrity, respect, and excellence extend beyond its guest services and into its relationships with employees and the broader community.
About Brittain Resorts & Hotels (BRH)
Brittain Resorts & Hotels (BRH) is a full-service hospitality management company providing multi-layered expertise in all disciplines of hotel and resort operations. Since 1943, BRH has been enriching the lives of their team members, guests, partners, and the communities they serve in providing exceptional guest experiences, a supportive work environment, and superior returns. With over 4,000 rooms, suites, and condos in the portfolio, the company currently operates 20+ hotels and resorts and 40+ restaurants & bars within the United States.