HotelPlanner and Reservations.com will go public through the SPAC Astrea Acquisitions Corp this fall. The combined company, which is valued at an enterprise value of $567.1 million, will take the HotePlanner name and list on NASDAQ under the ticker and catchy symbol “HOTP.”
With Reservations.com, HotelPlanner, which also owns Meetings.com, will offer individual, group and corporate booking access to more than one million properties globally. The combined company has a forecasted 2022 revenue of about $170 million and is expecting a 3-year revenue CAGR of about 42%.
The merger transaction will enable HotelPlanner to transform into a diversified hotel and event booking platform with complementary revenue streams, and provide the combined company opportunities to realize multiple revenue and cost synergies to drive faster growth at scale.
Reservations.com, which launched in 2014, had more than one million hotel stays booked on its site in 2019. With the merger, it will shift its offline bookings to HotelPlanner’s higher-margin Closed User Group rates and access its gig-based customer service platform.
The combined HotelPlanner is on track to achieve record revenue in 2021, and we believe this transaction will provide the scale and capital to help further accelerate their growth trajectory and deliver exceptional shareholder value for decades to come.”