TravelClick Is Up For Auction at $800 Million But Suitors Are Balking at the Price Tag
TravelClick, the hotel business intelligence and technology provider, is up for sale with an $800 million asking price, but some prospective buyers are balking at the valuation.
The fact that TravelClick has resorted to an auction process, being carried out by Evercore Partners, in itself is a signal that its sale process hasn’t been going so well.
Acquired by private equity firm Genstar Capital in December 2007, TravelClick initially went through a more orthodox sales process, putting out a book, and failed to find a buyer. One of the suitors that got cold feet is rumored to have been Oracle.
Skift spoke with a handful of sources about the status of Travelclick’s auction, and it appears that numerous companies have submitted bids, and several are actively going through the due diligence process. TravelClick declined to comment for this story.