Articles tagged “private equity”

Expedia to Deliver Early Payday to Private Equity Investors

Expedia to Deliver Early Payday to Private Equity Investors

Dennis Schaal, Skift

It's no accident that Expedia Group disclosed improved booking trends on Monday, and then announced a senior notes offering to refinance the company's private equity debt a day later. Hey, whether you are a homeowner or a giant online travel company, a good refinancing deal can be smart and hard to resist.

5 days ago

Private Equity Firm KKR to Buy Roompot for $1.1 Billion in Bet on Vacation Parks

Private Equity Firm KKR to Buy Roompot for $1.1 Billion in Bet on Vacation Parks

Bart Meijer, Reuters

The buyout firm KKR paid close to the asking price Roompot, which runs 200 campsites and holiday homes in Denmark, the Netherlands, and elsewhere in Europe. PAI Partners made quite a profit on it, having bought Roompot for only about $700 million in 2016.

3 weeks ago

Travelport Receives $500 Million in Fresh Financing From Private Equity

Travelport Receives $500 Million in Fresh Financing From Private Equity

Sean O'Neill, Skift

The cash injection will give the travel technology firm Travelport some breathing room as it fights payments tech firm Wex over a transaction dispute.

1 month ago

Vacasa Grabs $108 Million in New Funding Led by Private Equity Investor Silver Lake

Vacasa Grabs $108 Million in New Funding Led by Private Equity Investor Silver Lake

Sean O'Neill, Skift

The coronavirus pandemic made some travel companies seem like dominoes stacked too closely together. But private equity will help some businesses like Vacasa escape this crisis without toppling over.

1 month ago

Expedia Group CEO Peter Kern on Navigating a Frenemy Relationship With Airbnb

Expedia Group CEO Peter Kern on Navigating a Frenemy Relationship With Airbnb

Dennis Schaal, Skift

Many companies won't reopen for business when coronavirus ebbs, but two that will definitely still be left standing will be Expedia Group and Airbnb. They could potentially find ways to cooperate in the face of bigger threats in the form of Google and Booking.com.

2 months ago

Trip.com Group’s Acquisition of Travix Hints at Appeal of Smaller Travel Agencies

Trip.com Group’s Acquisition of Travix Hints at Appeal of Smaller Travel Agencies

Sean O'Neill, Skift

Smaller online travel agencies try to make money by grabbing nickels and eurocent coins ahead of the steamrollers of global advertising behemoths. The underreported story of why China's largest travel company acquired a tiny Dutch travel group highlights the phenomenon.

2 months ago

Expedia Grabs $3.2 Billion in Private Equity Financing and Appoints Peter Kern CEO

Expedia Grabs $3.2 Billion in Private Equity Financing and Appoints Peter Kern CEO

Dennis Schaal, Skift

Barry Diller followed a familiar pattern and appointed someone he's known for years and feels comfortable working with as CEO. Peter Kern will have no trouble working with Apollo and Silver Lake, and with making deep cuts because he is a private equity guy at heart.

3 months ago

Expedia Close to Selling a Potential $1 Billion Stake to Private Equity to Help Shore Up Finances

Expedia Close to Selling a Potential $1 Billion Stake to Private Equity to Help Shore Up Finances

Dennis Schaal, Skift

Two private equity firms are likely taking a minority stake in Expedia Group at very attractive terms — for the investors. There will be a flood of these types of deals inside the travel industry — and outside it, as well.

3 months ago

Airbnb Grabs $1 Billion Investment From Silver Lake and Sixth Street Partners

Airbnb Grabs $1 Billion Investment From Silver Lake and Sixth Street Partners

Dennis Schaal, Skift

Silver Lake and Sixth Street likely got a very attractive deal in exchange for their investment.

3 months ago

Mondee Buys Airfare Wholesaler in Play for Ethnic Travel Agencies

Mondee Buys Airfare Wholesaler in Play for Ethnic Travel Agencies

Sean O'Neill, Skift

Mondee's acquisition of fast-growing CTS (Cosmopolitan Travel Service) makes the group North America's largest airfare wholesaler by market size. Notably, Mondee could afford the deal thanks to fresh backing by TCW Group, a giant asset management firm. Lots of institutional money is seeking opportunities in travel this year.

5 months ago

CEO Ninan Chacko Is Out at Travel Leaders Group

CEO Ninan Chacko Is Out at Travel Leaders Group

Dennis Schaal, Skift

Ninan Chacko's abrupt exit as CEO of Travel Leaders Group elicited "wows" across the travel industry when people heard the news. The reasons behind his departure, and what new strategy controlling shareholder Certares Management has in mind is mere speculation for now.

6 months ago

Sykes Cottages Sold for $480 Million in a Bet on Tech-Led Short-Term Rentals

Sykes Cottages Sold for $480 Million in a Bet on Tech-Led Short-Term Rentals

Sean O'Neill, Skift

The deal gives a nice return to private equity firm Livingbridge, which bought Sykes in 2015 for about $75 million. What makes Sykes Cottages stand out is that it has fully built almost all of its technology on its own and has almost 80 percent direct bookings. New majority stakeholder Vitruvian is now placing a bet on short-term rentals.

9 months ago