While the debate hasn't still settled over long-term viability of last minute hotel booking providers will sustain, Spain-based brand Hot Hotels remains bullish and has acquired local rival ReallyLateBooking.
Terms of the deal were not disclosed. Joe Haslam, chairman of Hot Hotels told us that serious discussions with ReallyLateBooking started since April this year.
ReallyLateBooking's mobile app has been downloaded more than 300,000 times.
Conor O´Connor, CEO of Hot Hotels says:
"This acquisition will make Hot Hotels the undisputed leader of last minute mobile hotel booking in Europe. Two years of hard work by the founders of ReallyLateBooking have achieved a solid base of customers and a stable pattern of daily bookings."
Roberto Gil, CEO of ReallyLateBooking says:
"Although competitors, we have always had good relations with the founders of Hot Hotels. They are serial entrepreneurs with extensive contacts in European travel. Combining forces with Hot Hotels will dramatically improve the experience for our customers and hotel partners.”
Hot Hotels management team are positive about the future of the pure play mobile last minute hotel booking sector.
This acquisition news comes after two big developments in this space in the recent past: HotelTonight's fourth round of funding worth $45 million, and Grouponbuying Europe-based last minute hotel booking provider Blink.
Hot Hotels [TLabs here] was founded in March 2012 and has offices in Madrid and Malaga in Spain. The Hot Hotels mobile app offers hotels from 30 countries and 201 cities in locations across Europe, Africa, Latin America, Asia and Israel.
ReallyLateBooking was founded in July 2011 and it offers service in 200 cities across Europe. The company was funded by a number of Spanish Business Angels.