Landmark deal merges two online travel giants, strengthening the travel proposition of DVI and BYOjet Group.
Disruptive Investment Group (DVI), owner of check-in.com.au, yesterday announced the acquisition of online travel agency BYOjet.
The deal will mean Check-in.com.au will be merged with the BYOjet Group with the BYOjet Founder and CEO to become a major shareholder in DVI.
BYOjet is one of Australia’s Top 10 most visited online travel agents, with website traffic of eight million user sessions and almost 33 million page views in the past 12 months.
The transaction creates a major online travel agent boasting FY14 Total Transaction Value (TTV) of approximately $87 million and a combined customer database in excess of 400,000 travellers.
The merge will mean consumers are able to book flights, hotels, travel insurance, mystery hotels and deals, as well as have access to Check-in’s exclusive source of travel inspiration, the Escape Lounge.
The Directors of DVI see the merger as an exciting opportunity to lift the DVI travel division to the next stage of its development.
“This transaction represents an excellent and logical fit, creating a new major Australian online travel agency group,” Dr. Adir Shiffman, Chairman of DVI, said.
“Check-In has some rare and very high value assets such as its brand, customer database and direct hotel relationships that complement BYOjet’s strengths. Our goal is to widen customer distribution by leveraging our combined strengths.”
Mr Lenny Padowitz, Founder and Chief Executive Officer of the BYOjet group, said the merger of Check-in and BYOjet significantly strengthens the travel proposition of the two businesses.
“We are excited by the synergies and opportunities the combined BYOjet and Check-in provide,” he said.
“The merging of our assets, as well as the additional investment by DVI, makes it possible for us to continue our strong growth in providing travel solutions for individual travellers and travel companies.”
Since launching in 2002, Check-in.com.au has successfully established itself as one of Australia’s leading online accommodation booking destinations.
In February this year Check-in successfully acquired start-up travel company Escapelounge.com.au to offer curated tours, activities, deals and unique travel content.