WebJet acquires Destinations of the World for $173M

Australia-based WebJet has acquired Destinations of the World (DOTW) for $173 million, a move that significantly expands Webjet’s B2B accommodations supplier business, WebBeds.

WebBeds operates around the world through its brands Sunhotels, JacTravel, Totalstay, FIT Ruums and Lots of Hotels.

The addition of Dubai-based B2B platform DOTW increases WebBeds’ direct contract supply by 24% to more than 28,500 rooms.

It will also boost WebBeds’ total transacted volume to more than $2 billion, a 54% increase, and bring its total worldwide hotel portfolio to 250,000 and office locations to 36.

“WebBeds is focused on helping our clients succeed and enabling our hotel partners to respond to fast-changing market trends. The acquisition of DOTW will ensure we can accomplish this on an even greater scale than we have achieved to date,” says John Guscic, WebJet’s managing director.

“DOTW is a company we have worked with for many years, and we have the greatest amount of respect for their business. We look forward to working with the DOTW team in the weeks and months ahead as we integrate our businesses and develop the best possible outcomes for all of our partners and clients.”

Webjet says the acquisition “significantly enhances WebBeds Asia-Pacific and Americas businesses and further expands its presence in Europe and the Middle East-Africa."

Webjet is acquiring DOTW from Gulf Capital, a leading private equity firm in the Middle East. Its founder and its management team will retain a shareholding in the enlarged Webjet Group.