Articles tagged “private equity”

Private Equity Takes Control of Cendyn in a Bet on Hotel Tech

Private Equity Takes Control of Cendyn in a Bet on Hotel Tech

Sean O'Neill, Skift

Many hoteliers will be watching what Cendyn's new president, Tim Sullivan, does to grow his company's software suite, which offers tools for automated marketing, business intelligence, and group sales management. Can it fend off competitors?

3 months ago

South Africa’s Travelstart to Buy Corporate Travel Agency Club Travel

South Africa’s Travelstart to Buy Corporate Travel Agency Club Travel

Richard Holmes, Skift

Travelstart is taking a logical next step in expanding from its core leisure travel business into corporate travel through an acquisition.

3 months ago

General Atlantic Buys Startup Kiwi.com in Travel Tech Play by Private Equity

General Atlantic Buys Startup Kiwi.com in Travel Tech Play by Private Equity

Sean O'Neill, Skift

A top-tier private equity firm like General Atlantic should provide a strong tailwind for Kiwi as it branches out from selling plane tickets into other types of travel. But it's a bit surprising that Ctrip.com or another travel conglomerate didn't bite instead.

4 months ago

Imperiled Thomas Cook in Talks to Sell Nordics Division

Imperiled Thomas Cook in Talks to Sell Nordics Division

Patrick Whyte, Skift

Given that Thomas Cook released a statement about the potential sale, this looks pretty serious. But it begs the question: Just what will Thomas Cook have left if and when it sells its airlines and Nordics divisions?

4 months ago

Travel Tripper Merges With Pegasus in Hotel Tech Rollup

Travel Tripper Merges With Pegasus in Hotel Tech Rollup

Sean O'Neill, Skift

Travel Tripper is taking on a distressed asset, Pegasus. Meh. But what's interesting is that Accel-KKR is backing the deal. The support by the private equity firm is yet another sign of more rollups of hotel tech companies to come against a backdrop of hotel software investments by Amadeus, Sabre, and Shiji.

8 months ago

The Inside Story of an Activist Investor’s Fight for Travelport

The Inside Story of an Activist Investor’s Fight for Travelport

Sean O'Neill, Skift

Few companies other than activist investor Elliott Management expressed a serious interest in acquiring Travelport. Elliott twice lost potential private equity partners after they reviewed Travelport's books. The deal price is underwhelming, and that's a signal that some things haven't been going the company's way.

8 months ago

Private Equity Takes Over Switchfly in a Bet on Travel Loyalty Tech

Private Equity Takes Over Switchfly in a Bet on Travel Loyalty Tech

Sean O'Neill, Skift

Switchfly, a travel tech firm specializing in loyalty and e-commerce upselling, has been taken over by private equity firms Golub Capital and L Capital.

8 months ago

Travelport’s Proposed Buyout Deal May Not End the Drama

Travelport’s Proposed Buyout Deal May Not End the Drama

Sean O'Neill, Skift

The early consensus is that Elliott Management put together a disappointing deal for investors. We cover the case for and against the deal here. But expect larger Travelport investors to consider resisting the deal or hope that a white knight acquirer rides in with a better offer.

10 months ago

Travelport Is Being Taken Private in $4.4 Billion Deal

Travelport Is Being Taken Private in $4.4 Billion Deal

Sean O'Neill, Skift

The long-predicted buyout of public-company Travelport has happened at a premium of about twice the market capitalization of the company. Expect a spinout of the company's eNett payments division and the proverbial "cost restructuring."

10 months ago

Travelport Close to Being Taken Private by Activist Investor

Travelport Close to Being Taken Private by Activist Investor

Sean O'Neill, Skift

Travelport has only been on the public market for four years, but hedge fund Elliott Management believes it can engineer a leveraged buyout that will unlock more value from the company. A spin-off of payments unit eNett is a likely early goal.

10 months ago

Private Equity Firm Upper90 to Invest $50 Million in Apartment-Style Hotels

Private Equity Firm Upper90 to Invest $50 Million in Apartment-Style Hotels

Jeremy Hill, Bloomberg

Upper90's joint venture hospitality developer Domio is further testament to the transformation of the hotel industry as new money goes into apartment-style properties rather than boxy, chain hotels. Investments like these will also contribute to urban gentrification.

12 months ago

Getaroom Sold to Private Equity Firm Court Square Capital Partners

Getaroom Sold to Private Equity Firm Court Square Capital Partners

Dennis Schaal, Skift

Did Hotels.com co-founders Bob Diener and Dave Litman do it again with Getaroom? Certainly not on the same scale, but Court Square's acquisition of Getaroom looks like a winner for the duo, who self-funded their latest venture in travel.

1 year ago