EDreams ODIGEO completes agreement to buy Silicon Valley-based hotel booking platform

eDreams ODIGEO has completed an agreement to acquire hotel booking platform TheWaylo.com

European OTA eDreams ODIGEO has completed an agreement to acquire hotel booking platform TheWaylo.com.

No financial details of the asses transaction were announced, but it is expected to close towards the end of eDream’s financial year in the first quarter of 2020.

TheWaylo.com was founded in Silicon Valley by RoamAmore and will bring “significant, innovative AI-driven technology and leading hotel domain expertise” to eDreams, the firms said.

The OTA added this will allow it to further grow its hotel and dynamic packages offering with additional content from thousands of hotels worldwide.

Dana Dunne, eDreams ODIGEO chief executive, said: “We are constantly seeking and harnessing the latest technology to deliver more options, greater value and better service for our 18 million customers worldwide, while also growing every aspect of our company.

“We have a business that generates a strong free cash flow, allowing us to pursue strategic growth opportunities that deliver value to our company, customers and shareholders.

“With this acquisition, we are thrilled to be further strengthening our hotel and dynamic package products, which are central to our product and revenue diversification strategy that is successfully building an attractive, diversified and sustainable business.”

Angik Sarkar, Waylo chief executive and founder, said: “We are excited to join one of the world’s largest online travel companies. We share a common goal to enable unique travel experiences through technology and we are looking forward to contributing to this for the benefit of millions of travellers worldwide.”