Logo - TravelzooTravelzoo Inc has exercised an option to buy back the licence of its Asia Pacific business for USD22.6m – 6x the USD3.6m price company founder Ralph Bartel paid for it back in 2009 at the height of the financial crisis.

It was a controversial transaction because Bartel is also company chairman and major shareholder however the rationale was that it removed what was then a loss-making business from the Travelzoo Inc balance sheet.

Travelzoo Asia Pacific comprises operations in Australia, China, Hong Kong, Japan and Taiwan. Tnooz reports that it made USD10.8m revenue last year.

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