• Hostelworld to compete with ‘big beasts’
Web Reservations International, which owns Hostelworld, has acquired competitor HostelBookers.com in an all-share deal valuing the group at USD500m. The group said that the move would allow it to compete head-to-head “with the 'big beasts', like Expedia and Booking.com”, with plans to invest in both marketing and technology to build scale in the budget sector.
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