Travelocity Global said on Tuesday that it has agreed to sell its Holiday Autos brand to CarTrawler. No financial terms were disclosed. CarTrawler, which was backed by ECI Partners, is a car rental solutions based in Dublin, Ireland.
LONDON. 18 June 2013. Travelocity Global announced today that it has reached an agreement to sell the Holiday Autos brand to Dublin-based car rental solutions provider, CarTrawler for an undisclosed sum. The deal sees CarTrawler, acquire rights and intangible assets of the Holiday Autos Directs and White Label business. These include the brand, URLs and domain names, subsidiary brands (including: Mietwagen, carhire4less, elmundoencoche, degrifauto and bookanddrive), white label and marketing contracts and intellectual property. Under a separate agreement, CarTrawler will become the exclusive provider of car rental to lastminute.com, a company which is part of Travelocity Global.
The decision to sell the Holiday Autos brand, which it has owned since 2003, aligns with Travelocity Global’s strategy to focus on its core business and key priorities, as well as to strengthen investment in its primary online travel brands.
Matthew Crummack, President Travelocity Europe, commented: “For the last 10 years the Holiday Autos brand has been integral to Travelocity Global, and it has been our privilege to support the Holiday Autos team in their dedication to growing the business to become one of Europe’s most recognised, respected and leading car hire brokers as it is today. The time is now right however, for its further success to be developed by CarTrawler. Their compelling vision and investment plans for the Holiday Autos brand make it the best custodian for its future growth.”
Travelocity Global is currently assessing options for the Holiday Autos Trade business which is not part of the CarTrawler acquisition. One option, pending further review and consultation across each of our countries, may be exiting the intensively competitive car rental Trade sector.
Crummack, added: “As we assess the future direction for the Holiday Autos Trade business, our teams are working directly with all our business partners and suppliers. Our customer service teams are providing continued support to Holiday Autos customers whose bookings are unaffected by this acquisition.”
About Holiday Autos:
Established in 1987, Holiday Autos, owned by Travelocity Global, is operating in over 5,000 locations around the world offering competitively priced car hire and a high level of service to all its customers. As well as car hire, holiday autos also offers campervan hire, van hire, prestige and hybrid car hire as well as chauffeur drive services.
CarTrawler has built a strong B2B2C business which provides partners in the aviation, travel, hospitality and leisure sectors with car rental solutions in 174 countries around the world. CarTrawler enables travel retailers to add car rental to their portfolio of products and services, creating an additional revenue stream that requires no investment on their part. Private equity investor, ECI Partners, invested in CarTrawler in May 2011. The business is led by CEO Mike McGearty with CTO Bobby Healy and CFO David Paterson, and a highly experienced Executive Team.
CarTrawler’s online car hire booking platform provides its partners a direct connection to over 800 leading and independent car rental agents in over 30,000 airport and city locations, guaranteeing fastest response times and 99.98% availability. Its white label platform enables partners to self brand their car hire offer with minimum administration and implementation costs which enables customers to achieve enhanced margins on significant revenues.
CarTrawler’s strategy is to grow organically and by acquisition to leverage its market leading platform. Since ECI Partners’ investment in the business, it has grown strongly with the successful recruitment of leading international airlines, travel companies and hotel groups as partners and a measured expansion of its global footprint.
The global car rental market continues to grow and in 2012 was worth €38 billion.
Airline partners include; West Jet, Volotea, Vueling, Virgin Australia, Emirates, Fly Dubai, Air India, South African Airways, Finn Air, Malaysian Airlines, Iceland Air, Hawaiian Airlines, Norwegian, Wizz Air, and Gulf Air. CarTrawler also works with Datalex and SITA who resell their technology to the airline industry.
CarTrawler also provides car rental sales technology to lodgings (hotels, rented accommodation and hostels), online travel agents, information websites (media, tourist authorities and airports) travel and transportation (car rental, rail and ferry websites) and retail travel agents. Clients include Starwood Hotels, Webjet.com.au, Hostelworld, Villarenters, STA Travel, Skyscanner, Travix, Online Republic, The Trainline.com, Via Michelin, Flightnetwork, Travelstart, HolidayExtras, Air Canada Vacations and Flightcentre.
Established in 2004 and headquartered in Dublin, Ireland, CarTrawler employs 155 skilled graduates at its Dundrum base. The Company is one of Ireland’s leading technology employers recruiting from third and forth level university courses in Ireland and internationally as well as from companies such as Google, PayPal, Vodafone and Eircom.