Web Reservations International Acquires WorldRes; Company to Apply Its Successful Online Travel Model to WorldRes Operations to Benefit Hotel and Distribution Partners
The acquisition brings more than 35,000 hotels and 2,000 websites in 160 countries, as well as online travel agents, tourist boards and destination management companies, to the WRI platform. WorldRes technology gives hotel partners greater inventory and pricing control, supported by a truly global network of distribution partners, including SideStep, BestLodging, Opodo.com, Lastminute.com, SAS.com and Hotels.de.
Under the terms of the acquisition most of the assets and business contracts of WorldRes will transfer immediately to WRI, and existing business operations will transfer seamlessly and immediately to the WorldRes division of WRI.
Said Nolan: "WRI will add some 1,000 distribution outlets, providing WorldRes' member hotels the opportunity to significantly grow their businesses. For distribution partners, WRI will also deliver new technology providing transparency and clarity on revenue earned. We aim to reduce or remove the time-consuming and costly book/stay/reconcile pay cycle for hotels and affiliates."
Web Reservations International will now operate two separate business units:
- Hostels division, focusing on online bookings and reservations technology for the budget, independent and youth travel sector through its Hostelworld.com, Hostels.com and other brands. Leading this unit will be Tom Kennedy, president and co-founder of Web Reservations International. The Hostel division will continue with its own dedicated team, concentrating on growing the hostels business.
- Hotels division, focusing on online hotel reservations through trade relationships with hotel and affiliate partners. This business will be managed for the immediate future by Ray Nolan, CEO and co-founder of Web Reservations International, assisted by the WorldRes management team and staff, who will move to this new division.
According to Nolan: "WRI has a proven business model that can profitably bring online sales opportunities to hotels. The WorldRes technology, managed through WRI, will allow hotels to have more success than ever before."
Nolan will become Group CEO of the expanded Web Reservations International organization. The company will be headquartered in Dublin, with offices in Germany, the United States and Australia.
About Web Reservations International - Web Reservations International (WRI) is a leading internet travel retailer and distributor, based in Dublin, Ireland. Founded in 1999, it is the biggest global provider of confirmed online reservations for the budget accommodation sector. Brands include Hostelworld.com, Hostels.com and Trav.com. WRI booking engines also provide reservation technology to more than 1,000 affiliates including Ryanair.com, Lonelyplanet.com Flybe.com and Rail Europe. The company is privately owned. For more information, please visit Web Reservations International at .