Dublin-based Web Reservations International has responded to rumours that it is on the market for £275m by confirming that it is considering its options.
Following reports in last week’s Sunday Times that the business was for sale, WRI said it had “initiated a process to consider potential investment options which may or may not lead to an investment transaction”.
WRI, which was founded in 1999, owns hostelworld.com, boo.com, hostels.com and trav.com.
In a statement, WRI pointed out that “throughout the company’s history it has experienced a number of shareholder changes and new investments without significantly altering the operations or culture of the organisation,” adding that “the continuing focus of management is on growing and developing the business”.
The report suggested that the business would be of interest to Expedia and Priceline, and suggested a £275 million price tag. In 2008, WRI made an operating profit of €19.6 million on revenues of €38 million.