Articles tagged “lastminute.com”

Sabre acquired the once-proud brand, Lastminute.com, for nearly $1.2 billion in 2005 -- and now is selling it for about one-tenth of the initial acquisition cost. Sabre bungled the Lastminute.com acquisition and integration and now it is finally unloading the company after years of trying so Sabre can get rid of a profit drain and focus on its core businesses.

Given the flurry of merger and acquisition activity in the travel industry over the last couple of years, some of the TUI Travel accommodation and specialty tour businesses will undoubtedly be sold although it looks like the merged TUI AG-TUI Travel will be stuck with a bunch of them.

Lastminute.com will remain the last man standing of what was once Travelocity -- but only until Sabre can find a buyer in a fire sale because keeping it makes no sense at this juncture.

The original last minute pioneer may have a tough going as competitors like HotelTonight and even larger players like Priceline have grabbed onto the mobile instant booking proposition. But Lastminute still has UK brand recognition, so it may still have a chance there.

Travelocity overpaid for LastMinute.com and it was a very problematic acquisition, but we're glad things are going well for Baroness Lane-Fox of Soho.