Expedia is to buy 61.6% of European hotel price comparison and booking site Trivago for €477 million. Trivago was launched in 2005 by Düsseldorf-based founders Peter Vinnemeier, Malte Siewert, and Rolf Schrömgens. Revenue has doubled every year since 2008 and the site expects to deliver about €100 million in net revenue for 2012.
“The Trivago team built one of the largest, fastest growing and most well known travel sites in Europe conducting more than 100 million hotel searches annually through a culture focused on developing great products, building a strong brand and promoting partners’ businesses,’ said Dara Khosrowshahi, Expedia President and Chief Executive. “These attributes closely align with Expedia Inc’s strategy and values and we are thrilled to have them join our portfolio.”
The deal is expected to close in the first half of 2013 pending approval from relevant competition authorities. After the deal is completed, Trivago will continue to function independently from its original headquarters in Düsseldorf.
“We are very excited to join the Expedia Inc portfolio and eager to learn from their experience, having built-up some of the world’s most trusted travel brands,” said Rolf Schromgens, Trivago co-founder and Managing Director. “Our passion and focus will remain on independently evolving our comprehensive and individualised hotel search. We will stay committed to our mission: To empower consumers to find their ideal hotel at the lowest possible rate.”
