Argentina-based online travel
agency Despegar has acquired Viajanet, a competitor based in Brazil, for $15
This marks the third acquisition of
a Brazil-based company for Despegar, which operates as Decolar in the Brazil
In August 2020
it bought Koin, a Brazilian online payment platform, and earlier this year
it acquired a 51% stake in Stays, a Brazil-based supplier of property management
solutions for vacation rentals.
“The acquisition of Viajanet,
our third in the last two years in Brazil, is another step in our regional
consolidation strategy that will enable us to deploy more of Despegar’s
higher-margin non-air inventory through a new brand and its customer base while
bolstering our team in the country,” says Marcelo Grether, Despegar’s chief for
mergers and acquisitions and new business officer.
“We expect to capture other
significant synergies by leveraging Despegar’s technology platform to enhance
Viajanet’s conversion rates and performance marketing capabilities, among other
In 2019, Viajanet’s revenue was
about $30 million. During 2021, the company’s online sales accounted for about
98% of total sales, with 88% of gross bookings coming in through its B2C channel
and the remainder as B2B.
Despegar also notes an opportunity
to cross-sell its accommodation inventory and other non-air products to
Viajanet’s existing customers – since 98% of Viajanet’s bookings were for air
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“Becoming part of Despegar will
give our customers access to a larger and more diverse inventory of travel
products while also benefiting from the innovative technological capabilities
behind its leading travel site,” says Paulo Nascimento, CEO of
Despegar reported its most recent financial results, with adjusted EBITDA
of $9 million in the Q4 2021, a 9% increase compared to Q4 2019 despite gross
bookings of only 75% of that quarter’s level. The company operates in 20
countries in Latin America.
The acquisition of Viajanet is
expected to close in the second quarter of this year.