October 02, 2015

Google-backed luxury-trip site Secret Escapes buys german rival

Google-backed Secret Escapes Ltd., a U.K. online travel site focusing on luxury trips, is taking over German rival Travista to expand in Europe’s biggest economy. The purchase gives Secret Escapes about 500,000 additional members in Germany.

Secret Escapes has 19 million users, 2 million of them in Germany. No price was disclosed.

"Travista, with its hotel and trip flash sales, has a business model that’s very similar to ours,” Secret Escapes said. “Synergy effects will help us expand our offering in Germany on both portals.”

Germany is the second-most popular destination for European travelers behind Spain, according to the German National Tourist Board. Online bookings rose to 66 percent of global reservations last year, with smartphone trip purchasing also growing. London-based Secret Escapes offers discounted rates on members-only flash sales for luxury travel by selling vacant rooms.

Get the full story at Bloomberg Business