Booking Holdings will acquire B2B hotel room distributor Getaroom from Court Square Capital Partners for $1.2 billion.
At closing, Dallas, Texas-based Getaroom will roll into Booking Holdings’ Priceline brand.
With the acquisition, Getaroom will join Priceline’s strategic partnerships team, Priceline Partner Network, to form a new strategic partnerships business unit that the online travel agency says will improve B2B distribution for hotel partners while also offering a robust accommodations technology stack for affiliate partners.
“As the travel industry continues to recover from the pandemic, we are continuously looking for opportunities to better support both our partners and our customers. Over the years, strategic partnerships have played an important role in our efforts to reach more customers through new channels," says Priceline CEO Brett Keller.[--newsletter id='1'--
]"By combining the technology and expertise of Getaroom and Priceline, we can further streamline distribution for our hotel partners and provide new and better solutions for the U.S. accommodations segment."
Says Getaroom CEO Matt Davis, who will lead Priceline’s new strategic partners business unit: "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.”
Founded in 2005, Getaroom has more than 150 affiliates.
Last week, Booking Holdings reported an increase in revenue for the third quarter of 2021, notching $4.7 billion, just shy of Q3 2019 revenue of $5 billion.
The Getaroom deal is the biggest acquisition by Booking Holdings for a number of years.
Priceline Group, as Booking Holdings was then known, acquired restaurant booking service OpenTable for $2.6 billion in June 2014.
This came 18 months after its deal to buy Kayak in a $1.8 billion package in November 2012.