Expedia acquires Venere.com

July 15, 2008 | Online Travel

Expedia has entered into an agreement to acquire Italy-based Venere.com.The transaction will result in the addition of more than 10,000 incremental hotel properties in Europe, the Middle East and Africa to Expedia's global hotel offering.

Expedia, Inc. today announced that it has entered into an agreement to acquire Italy-based Venere Net ApA from Advent International and the founding partners. Venere.com has established relationships with approximately 29,000 hotels and bed and breakfast properties throughout Europe and the U.S. The transaction will result in the addition of more than 10,000 incremental hotel properties in Europe, the Middle East and Africa to Expedia, Inc.‘s global hotel offering. Terms of the pending acquisition were not disclosed. Closing of the transaction is subject to competition approval in Germany.

Venere.com is focused on offering hotel reservations to European consumers and provides hoteliers with geographically diverse sources of demand. The company has direct relationships with approximately 29,000 hotels around the world—including 26,000 in Europe—with which it operates an agency model. Venere(TM) is currently adding hotel properties at a rate of more than 1,000 per month.

“Acquiring Venere will bring a well-known, respected European consumer brand to the Expedia(R) portfolio,” said Dara Khosrowshahi, President and CEO, Expedia, Inc. “Additionally, it will immediately expand our supply footprint in Europe, the Middle East and Africa, and enable Expedia to diversify our business model approach to hotel partners worldwide.”

“We are delighted to have played a role alongside Venere’s management team in transitioning the company from an entrepreneurial, founder-led business into one of Europe’s most valuable on-line travel assets,” said John Singer, Managing Partner of Advent International. “Expedia is a highly complementary fit for Venere, and will be a perfect strategic partner for their ongoing development.”

“We are thrilled at the prospect of becoming part of Expedia because our dedication to offering superior service to travelers via our expansive network of hotels and B&Bs is a great fit with the most respected group of brands in travel,” said Marco Ficarra, CEO of Venere.com. “In addition, our team of passionate travel professionals located in Rome, London and Paris will complement Expedia’s global team, as we continue to provide hotels new ways to optimize their distribution mix.”