Booking Holdings announced that an agreement has been reached to acquire Getaroom, part of the Court Square Capital Partners group, for approximately $1.2 billion.
Getaroom, headquartered in Dallas, Texas, is a business-to-business hotel room distributor focusing on leisure travelers living in or traveling to North America.
The company’s mission is to streamline the intricacies and affordability of the worldwide hotel distribution process while providing a single-source solution to its partners worldwide who wish to provide a hospitality experience for their members, employees, or customers.
Booking Holdings (NASDAQ: BKNG) is a global provider of digital travel and travel-related offerings to consumers and corporate associates.
The company offers six core consumer brands: Booking.com, Priceline, Agoda, Rentalcars.com, KAYAK, and OpenTable. Booking Holdings’ mission is to make it easier for everyone to experience travel and discover the world.
Upon closing of the transaction, Getaroom will be integrated into Booking Holdings’ Priceline brand.
With this reporting relationship, Getaroom will merge with Priceline’s complementary strategic partnerships team, Priceline Partner Network, creating a comprehensive and new strategic partnerships business unit. This will increase B2B distribution for hotel partners while providing a robust hosting technology stack for affiliate partners.
The current CEO of Getaroom, Matt Davis, will lead Priceline’s new strategic partnerships business unit, and Getaroom’s headquarters will remain in Dallas.
Matt Davis stated: “The combination of Getaroom and the Priceline Partner Network will enable accelerated growth behind our shared vision of delivering a more robust solution for our customers and affiliates and greatly simplify the complexity of global distribution for our hotel partners.”
Joseph Silvestri, the Managing Partner of Court Square Capital Partners, stated “Matt Davis and the leadership team at Getaroom have done a tremendous job managing the growth of the business over the years. The combination of Getaroom and Priceline Partner Network will help them create more value for their hotel and affiliate partners.”
