Published on : Tuesday, October 3, 2017
The deal values Gekko at $117 million, or €100 million. The companies did not unveil the terms of the transaction.
HLD, a European investment fund, had been an investor in, and minority shareholder of, Gekko. AccorHotels will likely to divulge more about the acquisition when it reports its quarterly financials.
Gekko Group, one of the most important travel website is dominated by the French had collected €150 million in turnover last year. It claims to be profitable in the last year. It said it closed the 12 months to end of September with revenue at around $222 million (€190 million) — up from about $120 million (€105 million) during the previous comparable period.
Gekko Group offers the search and reservation solutions for travel agents, who are looking to book more than 500,000 hotels worldwide, ranging from budget to luxury properties.
Gekko includes more than two hotel-booking platforms for professionals. The first is Teldar Travel, the most-used hotel reservations tool for French travel agents. Teldar Travel is the preferred partner in France of travel agency networks such as Selectour Afat, Thomas Cook, Carlson Wagonlit, and “thousands” of independent agencies.
The other major brand Hotel Corporate System focuses on the corporate and government accounts. The software of HC System offers the centralised invoicing for the travel agents. It has lured a global partnership with the other global travel companies like American Express Global Business Travel and Booking.com.