Online travel company eDreams ODIGEO has acquired hotel booking platform Waylo.
It has entered into an asset purchase agreement with RoamAmore Inc, a business founded in Silicon Valley that operates TheWaylo.com.
The Spanish group said the move gives it ‘significant, innovative AI-driven technology and leading hotel domain expertise’, which will allow it to further grow its hotel and dynamic packages offering with additional content from thousands of hotels worldwide.
Waylo, launched in 2016, claims to be the first hotel price prediction engine by using price prediction algorithm to foresee future hotel price drops.
Dana Dunne, eDreams ODIGEO CEO said: “We are constantly seeking and harnessing the latest technology to deliver more options, greater value and better service for our 18 million customers worldwide, while also growing every aspect of our company.
“We have a business that generates a strong free cash flow, allowing us to pursue strategic growth opportunities that deliver value to our company, customers and shareholders.
“With this acquisition, we are thrilled to be further strengthening our hotel and dynamic package products, which are central to our product and revenue diversification strategy that is successfully building an attractive, diversified and sustainable business.”
The deal is expected to be closed by the end of this quarter, subject to customary conditions.