Travel deals service Secret Escapes has acquired the intellectual property of LateRooms which includes the LateRooms.com and LateLuxury.com websites.
LateRooms was part of Malvern Group, which brought in a third party administrator to handle its operations in early August after running into financial difficulties.
Secret Escapes says it plans to restart LateLuxury, a joint venture between it and LateRooms, as soon as possible.
This is the latest in a string of acquisitions for the deals service which bought Empathy Marketing, the owner of Irish deals site pigsback.com in February 2019.
In late 2018, Secret Escapes acquired the brand and assets of failed Netherlands-based online travel site TravelBird.
It then relaunched the brand.
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As part of an update released by Secret Escapes, the company says revenue increased to £101 million in 2018, up from £72 million in 2017.
EBITDA increased to £1.4 million from a loss of £8.4 in 2017 and the company says it has “sufficient resources to fund the next phase of growth.”
Secret Escapes says it continued to invest in group technology in 2018 personalization technology and artificial intelligence to help target its offers.
The company also recently appointed Andy Botha as chief financial officer from a similar role at ZPG.
Alex Saint, co-founder and CEO of Secret Escapes, says: “The demand for inspirational travel experiences continues to grow with consumers placing an even greater emphasis on curated and authentic experiences.
"We have a large and engaged membership and, by leveraging our data and technology, we can create and market increasingly personalized offers to continue to drive further growth.”
* Check out Saint discuss the company's strategy in a one-to-one interview at Phocuswright Europe 2018 in Amsterdam.
Executive interview: Secret Escapes