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August 02, 2013
On 11 April 2013 Web Reservations International, which operates the award winning websites hostelworld.com, hostels.com and bedandbreakfastworld.com, announced its intention to merge with HostelBookers.com Limited, which operates the hostelbookers.com and anytrip.com websites.
Today, the UK's Office of Fair Trading has confirmed that the merger has been cleared and can now move to completion.
Feargal Mooney, WRI Chief Executive, commented:'We are pleased that the OFT has decided not to refer the merger to the Competition Commission.
'The merger is good for property owners, customers and the accommodation services sector as a whole. As we have previously stated, to continue to compete head-to-head with the "big beasts", like Expedia and Booking.com, who are increasingly active in the budget accommodation space, we need to invest and the enlarged Group will, amongst other benefits, have the capacity to inject more resources into online marketing and technology.
'Our service will both compete head to-head with the large online travel agents, and retain the personal service and sector knowledge that comes from being a smaller, budget-focused player - meeting the needs of hostels, B&Bs and smaller hotels, and providing enhanced service to our customers and partners.
'Our mission is to be the fastest-growing online provider of value accommodation, using innovative technology to inspire independent-minded travellers everywhere. This merger is a major step forward for both businesses and we look to the future with great excitement.'
Weber Shandwick +44 (0)20 7067 0000
Jon McLeod +44 (0)7775 530978
Nick Oborne +44 (0)7850 127526