Booking Holdings Completes the Acquisition of Getaroom

Rhea-AI Summary

Booking Holdings Inc. (NASDAQ: BKNG) has finalized its acquisition of Getaroom from Court Square Capital Partners for roughly $1.2 billion. Getaroom, a B2B distributor of hotel rooms, will integrate into Booking's Priceline brand, establishing a new Strategic Partnerships unit. CEO Brett Keller emphasized the merger's potential to enhance value for hotel and affiliate partners. Getaroom will maintain its headquarters in Dallas, led by its current CEO Matt Davis.

Positive

• Acquisition of Getaroom enhances Priceline's strategic offerings.
• Potential for increased value for hotel and affiliate partners through combined technology.

Negative

• None.

NORWALK, Conn., Dec. 30, 2021 /PRNewswire/ -- Booking Holdings Inc. (NASDAQ: BKNG) today announced that it has successfully completed its previously announced plan to acquire Getaroom from Court Square Capital Partners for approximately $1.2 billion. Getaroom is a B2B distributor of hotel rooms, and will roll into Booking Holdings' Priceline brand to form a new Strategic Partnerships business unit with the Priceline Partner Network.

"By combining the technology and expertise of Getaroom and Priceline, we believe we can increase value for both hotel and affiliate partners," said Brett Keller, Chief Executive Officer of Priceline. "We are thrilled to welcome Getaroom to the Priceline family, and look forward to learning from each other to best support our partners."

Getaroom will remain headquartered in Dallas and current Chief Executive Officer, Matt Davis, will lead Priceline's new Strategic Partnerships business unit.

About Booking Holdings

Booking Holdings (NASDAQ: BKNG) is the world's leading provider of online travel and related services, provided to consumers and local partners in more than 220 countries and territories through six primary consumer-facing brands: Booking.com, Priceline, Agoda, Rentalcars.com, KAYAK and OpenTable. The mission of Booking Holdings is to make it easier for everyone to experience the world. For more information, visit BookingHoldings.com and follow us on Twitter @BookingHoldings.

About Getaroom

Getaroom is a B2B-focused distributor of hotel rooms primarily serving leisure travelers within or traveling to North America. Getaroom's mission is to simplify the complexity and costs of global distribution for hotels and deliver a single supplier solution for partners around the world that desire to offer a hospitality experience to their members, employees or customers.

View original content:https://www.prnewswire.com/news-releases/booking-holdings-completes-the-acquisition-of-getaroom-301452027.html

SOURCE Booking Holdings Inc.

FAQ

What was the value of Booking Holdings' acquisition of Getaroom?

The acquisition was valued at approximately $1.2 billion.

What business will Getaroom be integrated into?

Getaroom will be integrated into Booking Holdings' Priceline brand.

Who will lead the new Strategic Partnerships unit?

Matt Davis, the current CEO of Getaroom, will lead the new unit.

Why is the acquisition of Getaroom significant for Booking Holdings?

It is expected to increase value for both hotel and affiliate partners.