Genstar seeks to sell TravelClick for more than $800 mn
28 Jan 2014
US private equity firm Genstar Capital is planning to sell TravelClick Inc, in a deal that values the provider of online reservation systems to the hotel industry at more than $800 million, Reuters reported, citing four people familiar with the matter.
Genstar, which acquired TravelClick in late 2007 for an undisclosed amount from private equity firm Bain Capital and TravelClick co-founders Richard Gray and Ray Cohen, has hired Evercore Partners to run an auction.
Founded in 1999, New York-based TravelClick, whose clients include global brands, independent hotels, medium-sized chains, and management companies, provides technology for guest reservations and website development to more than 36,000 hotel clients in over 160 countries.
The company also provides distribution solutions, including iHotelier central reservation system, an integrated reservation management and marketing system, iStay Web booking engine, a high-conversion booking engine and hotel merchandising platform, and ChannelDirect, which offers inventory and rate control across various third parties using one Web-based system.
It has around 900 employees and generated revenues of $257.10 million in 2012.
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