Skift Take
Lastminute.com Group’s traditional business of flight sales isn’t as profitable as it once was so growing metasearch makes sense. And while this deal isn’t a gamechanger it does represent an expansion into accommodation.
Lastminute.com Group has bought Switzerland-based metasearch site Hotelscan for an undisclosed figure.
The deal will help Lastminute.com Group broaden its offering by adding more accommodation providers. Its main brand Jetcost, is primarily focused on flights.
Hotelscan, which collects data from more than 100 online booking sites, had previously raised $10.2 million (€8.75 million) in four rounds of funding, according to Crunchbase.
Lastminute.com Group said the deal will have no material impacts on its profit and loss statement and balance sheet in 2017.
In its half-year earnings update in August, Lastminute.com group conceded that its main business of flight sales was suffering because of a growing commoditization in the market. However, metasearch revenue was up by 32 percent, indicating that the sector was becoming more lucrative for the company.
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Tags: lastminute.com group, metasearch
Photo credit: A Jetcost advert. Parent company Lastminute.com Group is expanding into accommodation metasearch.