Secret Escapes acquires Czech flash deals website Slevomat Group
Acquisition is said to be 10 times larger than the Young Gun founded company’s previous largest takeover
Secret Escapes, the members-only travel company founded by Young Gun Tom Valentine, has added fuel to its expansion plans with the acquisition of Czech flash deals website Slavomat Group for an undisclosed amount.
Founded in 2010 by Alex Saint and Valentine, Startups 100-featured Secret Escapes offers its members major discounts and deals on hand-picked luxury hotels and holidays in 21 countries across the UK, Europe and the US.
To date, it claims to have sold more than six million room nights for over 1.3 million customers around the world.
The deal follows the company’s expansion into the Czech Republic, Slovakia and Hungary in 2016 and follows a number of acquisitions over the last few years including that of German mobile hotel booking application Justbook, UK-based night planning app My City Venue, and German flash deal site Travista.
According to City A.M., the deal will complete in September and is said to be 10 times larger than Secret Escapes’ previous largest acquisition.
Back in July 2015, Secret Escapes landed a £4m investment in one of the largest rounds of the year; finance that has supported the company’s ongoing campaign of aggressive expansion as its looks to become a global multi-billion turnover business by 2020.
Saint, chief executive of Secret Escapes, told City A.M.: “The goal is to integrate the Slevomat Group with our existing businesses in central Europe. Central European businesses tend to be quite specific to the region that they’re in. Actually acquiring businesses that are run by strong local teams is a good way in.”