Shakeup of marginalized booking sites in Europe and Asia
Two struggling online travel agencies, Sabre’s LastMinute.com and TUI Group’s AsiaRooms.com, have met their disparate fates.
Sabre announced today that it closed on its previously announced sale of UK-headquartered LastMinute.com to Switzerland-based Bravofly Rumbo Group for a transaction value of $120 million.
However, Sabre, which acquired LastMinute.com in 2005 for nearly $1.2 billion, essentially sold LastMinute.com to Bravofly Rumbo Group by transferring liabilities and winning a long-term commitment for Bravofly’s brands to continue using the Sabre global distribution system.
LastMinute.com had been part of Sabre’s Travelocity unit and had been for sale for an extended period as Sabre dismantled Travelocity, selling its North America operations to Expedia Inc. and now its European operations to Bravofly Rumbo Group.