Issue 37: 19th October 2015

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    TUI sells LateRooms

    TUI Group has sold LateRooms for GBP8.5m to luxury travel group Cox & Kings Group. Cox & Kings said that it expected the deal would bolster its technology capabilities, particularly in the mobile sector. LateRooms was bought for GBP120m in 2006 by First Choice, which the following year merged to form TUI Travel. Cox & [...]
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    French union turns on Airbnb

    The French hoteliers’ union, UMIH, has promised to fight what it has described as “unfair competition” from Airbnb. UMIH is fresh from driving the banning of rate parity clauses in contracts between hoteliers and online travel agents. Roland Heguy, president, French hotel union, UMIH, said at the time of the ruling: “It is more than [...]
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    Airbnb adds business with BridgeStreet

    Airbnb has moved deeper into the corporate market after agreeing a partnership with BridgeStreet Global Hospitality. The deal will see Airbnb carry some of BridgeStreet’s portfolio, while the serviced apartment group will offer Airbnb’s Business product suite to its client base. Sean Worker, BridgeStreet Global Hospitality CEO said: “BridgeStreet is a leader in the corporate [...]
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    Hostelworld mooted for float

    Hostelworld majority-owner Hellman & Friedman is reported to have appointed Numis to advise it on an IPO. The rumours came as HomeAway announced the purchase of Dwellable, with investors giving increasing credence to alternatives to the traditional hotel sector. At Hostelworld, it is reported that owners Hellman & Friedman are looking to cut their stake [...]
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    Accor launches SME product

    AccorHotels has launched AccorHotels Business Solution, a product aimed at SMEs and SMIs to allow them to manage their travel policy and bookings online. The move comes after similar products have been introduced by Airbnb, Priceline Group and Expedia Inc, as the corporate market comes online. The tool allows managers to allow employees to book [...]