Travelzoo Asia Pacific Back In the Corporate Fold

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.

Share and Enjoy: