HolidayInsider wins German tourism heavy weight REWE Group as strategic partner
CORPORATE FINANCE PARTNERS ACTED AS EXCLUSIVE ADVISER TO HOLIDAYINSIDER AG AND ITS SHAREHOLDERS
Frankfurt, Germany, October 16 – HolidayInsider AG (“HolidayInsider”) today announced a significant minority investment by DERTOUR, a leading travel organisation in Germany and part of the REWE Group. As part of its strategic re-positioning, REWE Group’s Travel & Tourism Division has initially acquired 43% of the shares in HolidayInsider.
HolidayInsider is the leading online portal established as an intermediary for holiday accommodation in the German-speaking region of Germany, Austria and Switzerland. The online platform includes more than 190,000 offers from bed-and-breakfast and guest-house accommodation to small hotels, and from holiday homes to country estates and villas. More than 90 per cent of the accommodation featured on the website can be booked online.
“We have committed ourselves to growth markets. More than fifty per cent of Germans spend their holidays in a German-speaking country. However, the majority of holidaymakers opting for destinations closer to home have to spend a great deal of time and effort on finding suitable accommodation. Until recently, there was no comprehensive platform for accommodation offers within this segment. Holidayinsider.com has now filled this gap in the travel market and is thus considered a perfect match when it comes to pursuing our vision for the future. HolidayInsider is to become ‘the’ portal for holidaying in Germany,” says Norbert Fiebig, CEO of the Travel & Tourism division of the REWE Group.
The overall market for holiday accommodation in Germany, Austria and Switzerland is estimated to be worth around 13 billion euros. Until recently, it has been served by a number of regional websites and booking centres, complemented by the efforts of the individual owners of the properties being marketed. Holidayinsider.com brings together the various offers at a single site.
Niels Dörje, founder and CEO of HolidayInsider AG, emphasized: “We are confident that our new investor DERTOUR, representing the travel and tourism division of the REWE Group, is the best possible partner when it comes to implementing our vision, particularly in view of its commitment to long-term business. We will now be able to push ahead even faster with our all-in-one strategy, i.e. a pioneering platform that brings together the full range of holiday accommodation in Germany, Austria and Switzerland. Our platform’s simplicity is what makes it so popular among online users.”
Dr. Ingmar Ackermann, project manager of this transaction, also sees a great potential in this new partnership: “Having won REWE Group’s Travel & Tourism Division as a strong strategic partner, HolidayInsider will now be in a position to exploit the largely untapped opportunities in the long-tail accommodation market within the German speaking region and to significantly strengthen its market position in this attractive market segment.”
Corporate Finance Partners acted as exclusive Corporate Finance Adviser to HolidayInsider and its Shareholders in this transaction.
About REWE Group’s Travel & Tourism Division
The Travel & Tourism division of the REWE Group is Germany’s second-largest travel company. Recording total sales of EUR 4.5 billion in 2011, it includes the modular and long-distance travel operator Dertour, Meier's Weltreisen and ADAC Reisen as well as the package holiday brands ITS, Jahn Reisen, Tjaereborg and Clevertours, the travel agency organisation comprising Atlasreisen, DER Reisebüro and Derpart, in addition to the owner-operated travel agencies managed by Reisebüro Service Gesellschaft (RSG) and the business travel chain FCm Travel Solutions.
About HolidayInsider AG
HolidayInsider is the leading online portal established as an intermediary for holiday accommodation in the German-speaking region of Germany, Austria and Switzerland. The online platform includes more than 190,000 offers from bed-and-breakfast and guest-house accommodation to small hotels, and from holiday homes to country estates and villas. More than 90 per cent of the accommodation featured on the website can be booked online. More information can be found on http://www.holidayinsider.com/