- Sector: Media & Internet
- Deal Type: Strategic Deals
- Engagement type: Sellside
- Size: <$200m
Arma Partners is pleased to announce that it has acted as exclusive financial advisor to TUI Group, the world’s leading tourism business, on the disposal of LateRooms.com, which was acquired by SuperBreak, a subsidiary of publicly-listed Indian travel group Cox & Kings, one of the world’s oldest travel operators specialising in luxury holidays.
LateRooms.com is an online hotel booking platform with one of the leading brands in the UK, a worldwide portfolio of over 150,000 properties and a user base of 3.5 million. SuperBreak provides consumers with a range of travel products, including hotels, transportation (rail, flights and ferries) and travel inspiration (events, attractions, entertainment and sporting-events). The acquisition of LateRooms.com fits SuperBreak’s strategic plans to expand its global online travel and B2C proposition.
This transaction, together with the recently announced acquisition of Etraveli by ProSiebenSat.1, further underscores Arma Partners’ strong momentum in the online travel sector.