All-in-one travel site Tripadvisor Inc (NASDAQ:TRIP) is adding another top notch property to its website portfolio. The travel website released a statement on Friday, July 25th, announcing that it is purchasing San Francisco-based Viator for around $200 million, “substantially” in cash.
The deal is subject to the usual conditions and is anticipated to close by September 2014. TripAdvisor has already acquired lafourchette, Tripbod and Vacation Home Rentals earlier this year.
Tripadvisor Inc (NASDAQ:TRIP) has become one of the largest travel websites worldwide over the last few years, and enjoys 280 million unique visitors every month. The TA website provides 170 million reviews that cover more than 4 million hotels, restaurants and tourist attractions worldwide. TripAdvisor has a variety of operations in 43 countries and owns and operates 17 brands.
More about Viator
Viator is put together by travel insiders and curates the best local tours and activities. The website has already been visited by over 3 million people. Viator offers over 20,000 tours that can be directly booked online, and also provides 600,000 reviews submitted by travelers visiting more than 1,500 different destinations.
Viator’s business model involves working with local operators to set up a variety of tours and activities. Viator’s website is localized into 10 languages and also supports 10 currencies. Viator tours and activities can also be reserved online through the Viator Tours & Activities App. The firm works closely with more than 3,000 affiliate partners, including several airlines, four- and five-star hotels and a slew of travel agencies. Viator was founded by Rod Cuthbert, who is now the head of a new travel concern called Rome2Rio.
Statement from Tripadvisor
Tripadvisor Inc (NASDAQ:TRIP) president and CEO Stephen Kaufer explained the rationale for the acquisition in its statement. “Travelers want to explore local attractions while on their trip, and Viator’s depth and breadth in global attractions combined with their seamless booking experience will provide immediate benefit to our community, whether in the planning phase or on the trip.”
