bravofly rumbo orizonia telefonica axa private equity tnooz
533 days ago
 

Bravofly’s purchase of Rumbo consolidates the European OTA landscape

On Friday, Bravofly, a Swiss search engine for low-cost air and hotel bookings, said that it would buy Spanish OTA Rumbo in a deal is worth approximately €74 million ($95 million).

Axa Private Equity announced a €20 million euro ($25.6 million) capital increase in Bravofly, with the purpose of helping to fund Bravofly’s acquisition.

Small deal? Not really, when you look closer.

Bravofly had €250 million in turnover 2011 and aspires to reach €350 million in turnover this year. Combined annual revenue could reach €1 billion a year, according to a press release.

Bravofly says it has 4.5 million customers. Rumbo says it has about 2 million registered customers in Spain, Portugal, Brazil, Argentina, Colombia, and Venezuela.

Interesting history

Until 2008, Rumbo was co-owned by Amadeus, the Madrid-based GDS, and Telefónica SA, Spain’s largest telecom, which is now selling its 50% stake in Rumbo as part of its effort to trim its debt.

Amadeus sold its stake to Spanish travel group Orizonia, which is now selling that stake to Bravofly.

Let’s not forget that, in 2011, Amadeus also sold Opodo in 2011 to the same Axa (along with the private equity fund Permira), in order to merge Opodo with eDreams, a Barcelona-based flight search engine, and Go Voyages, France’s top OTA, into the online travel group Odigeo.

In 2011, Odigeo announced took in around of €3.9 billion worth of bookings, mainly from having strong positions in France and Spain for flight and hotel bookings.

Looking ahead

Industrywide, we should expect further consolidation.

The biggest groups will likely gobble up the few last independent OTAs in Northern Europe and in Russia.

Who’s next?

 
 
Daniele Beccari

About the Writer :: Daniele Beccari

Daniele Beccari is a contributing Node to Tnooz and co-founder/CEO of TargetHub, a startup using mobile and data to change the way people travel.

A travel technology strategist focusing on product innovation with global industry players, he also served as VP Europe at Isango, a global travel experiences aggregator. Previously he was head of global product marketing at the e-commerce division of Amadeus.

He started his career with the internet appliances R&D division of HP, working on e-mail client devices, web tablets and internet refrigerators... in 1995!

An MBA graduate from INSEAD (France), Daniele can be found somewhere between Paris, London, Turin, San francisco or Tokyo. Daniele's views are his alone and not necessarily the views of his clients.

 

Comments

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

No one has commented yet. be the first!

 
 

Email

  • (separate multiple emails with commas)
  • (optional)
  • (optional)
  • This field is for validation purposes and should be left unchanged.

Newsletter Subscription

Please subscribe now to Tnooz’s FREE daily newsletter.

This lively package of news and information from Tnooz’s web site provides a convenient digest of what’s happening in technology that drives the global travel, tourism and hospitality market.

  • Cancel