IRELAND - Hellman & Friedman acquires Web Reservations International
Hellman & Friedman has acquired online accomodation booking company Web Reservations International (WRI), owner of the Hostelworld online brand, for an undisclosed sum.
Dublin-based WRI's property management solutions are used by more than 23,000 accommodation providers in 180 countries. The company sold EUR 350m worth of accomodation in 2008, generating net revenues of EUR 38m. Its websites include hostelworld.com, hostels.com, boo.com, bedandbreakfastworld.com and trav.com. The company employs 93 people and has offices in Dublin, Shanghai, China and Sydney.
Hellman & Friedman was advised by Freshfields, Bruckhaus Deringer and Goldman Sachs, while WRI was advised by Maples and Calder and Morgan Stanley.
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