Cendant Corporation has announced that its Travel Distribution Services (TDS) division has acquired leading online accommodation provider…
Cendant Corporation has announced that its Travel Distribution Services (TDS) division has acquired leading online accommodation provider Flairview Travel, operator of two of Australia`s Top 10 Most Visited Destination and Accommodation sites*, HotelClub and RatesToGo. Generating annual gross bookings in excess of US$150 million, Flairview Travel will now form part of Cendant`s Travel Distribution division, including Galileo, Travelport, Lodging.com and CheapTickets.com.
The acquisition will provide both companies with opportunities to leverage each other`s strengths and compete more effectively in the dynamic online travel industry. Cendant TDS will gain access to Flairview Travel`s network of 7,000 hotel partners worldwide and tap into existing distribution channels including 6,000 affiliate partner and 7,000 travel agents. It will also allow TDS to distribute this rich international hotel content through its many other channels, strengthening value it brings to its customers in key European and Asia Pacific markets.
Flairview Travel, with nine offices across Asia Pacific, Europe and North America, will benefit with new travel content and product offerings provided by Cendant`s TDS companies and access to Cendant`s technology.
Samuel L. Katz, Chairman and CEO of Cendant TDS, said, The addition of Flairview Travel is consistent with TDS`s previously announced growth plans to pursue strategic acquisitions that complement and strengthen its existing portfolio of travel-related businesses. The expansion also accelerates the TDS business model`s strategic synthesis of order taking, efficiently processing travel transactions, and order making, profitably generating demand for travel worldwide.
Gordon Wilson, Managing Director of International Markets for Cendant TDS added: The acquisition of Flairview Travel offers TDS immediate scale, market share and profitability in the online arena outside of the United States. Flairview Travel`s international hotel content provides us with a substantial competitive advantage which we will leverage across our various distribution channels to better serve our customers who rely on our brands and online travel services.
Leon Kamenev, CEO Flairview Travel said Over the last 10 years, we have built an enormously successful business of which we`re incredibly proud. We have positioned the company as a leading player in Asia Pacific and Europe and have achieved up to 500% year on year growth since 1999.
Added Kamenev, Becoming part of Cendant provides an excellent platform for further and more aggressive expansion for Flairview Travel and is strong recognition from an internationally renowned brand which affirms the success we have enjoyed. I am very excited by the further opportunities that this will create for Flairview Travel and for our team.
Flairview Travel`s founder, Leon Kamenev, will continue to serve as CEO of the company, supported by his current management team, bringing their years of expertise and experience to the Cendant TDS family. HotelClub and RatesToGo will continue to operate as independent brands within Cendant TDS.
*Source: Hitwise Pty Ltd
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales. She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
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