Hostel booking platform Hostelworld has acquired B2B event discovery platform OccasionGenius
for $12 million.
The cash transaction by Ireland-based Hostelworld was funded by a €10.3
million term loan with Allied Irish Bank.
OccasionGenius offers an API-based global event
dataset with curated lists of “things to do,” providing Hostelworld with
access to structured global event content.
The acquisition boosts Hostelworld’s social travel
network as well its “social monetization strategy” by driving new trips and
boosting social members and bookings.
The company also said it is “a natural progression” of the growth strategy revealed at the
Capital Markets Day in April 2025.
U.S.-based OccasionGenius, which was founded in 2016, is projecting annualized
recurring revenue of $1.5 million at year end.
“This acquisition allows us to
immediately supercharge our platform with a wealth of content that would take
us years to build organically and enhances value creation opportunities for our
shareholders,” said Gary Morrison, CEO of Hostelworld Group.