Booking Holdings has agreed to buy B2B hotel room distributor Getaroom, from Court Square Capital Partners for approximately $1.2 billion.
When the deal closes US-based Getaroom will roll into Booking Holdings' Priceline brand and be combined with Priceline's strategic partnerships team, Priceline Partner Network, to form a new business unit that aims to improve B2B distribution for hotel partners.
Getaroom - which is based in Dallas, Texas and was founded in 2005 - has more than 150 affiliates. The company will remain headquartered in Dallas and current CEO, Matt Davis, will lead Priceline's new strategic partnerships business unit.
What They Said
Brett Keller, CEO of Priceline: "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.
"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."
Matt Davis, CEO, Getaroom: "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, managing partner, Court Square Capital Partners: "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.”