Although the finer details of the purchase is still being kept well and truly under wraps it appears that TripAdvisor has bought out HouseTrip, a platform that permits users to book holiday accommodation all around the world. Allegedly the U.K.-based firm was picked up for an undisclosed amount, suggesting the sum was either through the roof or surprisingly slim.
The website today states:
‘HouseTrip is one of the largest holiday rental websites in the world. An ideal alternative to hotels, a HouseTrip stay means authenticity, privacy, value for money and flexibility. Enjoy the many benefits that holiday rentals have to offer: more space, extra bedrooms, a kitchen and WiFi and laundry facilities at no extra charge.
Securely book a holiday rental for your vacation in Europe, Asia, Africa, North America, South America and Australia. Read how much HouseTrip Guests love their experience in independent reviews on TrustPilot.’
Already directing traffic to the review site this marriage is one of complete market sense, one that will no doubt drive the tourist industry in a new, tech-focused direction.
What happened to the $60 million?
Coming to market in 2010 the business grew and grew to be at a position where they were marketing 300,000 properties across Europe. Conjuring up over $60 million in investment the business was through the eyes of the consumer, flourishing. However, when thinking that the last investment was transacted two years ago it is suggested that many of those investors are considering their exit strategy.
“We’re committed to growing TripAdvisor Vacation Rentals and providing travelers with the best possible selection of high quality homes, no matter their destination or budget,” Dermot Halpin, president, TripAdvisor Vacation Rentals said in a statement. “HouseTrip brings valuable choices to our travelers, particularly those visiting Europe.”
Let us know what you think, could TripAdvisor bring something new to holiday lettings? Leave your thoughts below.