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Popular travel advice and booking site TripAdvisor has acquired luxury travel site Jetsetter from Gilt Groupe, the companies announced today.
TripAdvisor did not reveal the price, but Gilt has been reportedly shopping around Jetsetter for $30 million to $50 million since late last year. Gilt Groupe struggled a bit in 2012 and eventually hired Citigroup executive Michelle Peluso to lead the company last December to help get back on track. One of her moves apparently was to finish selling off Jetsetter.
“In a short span of time, Jetsetter has emerged as a premier player in the travel space, and we are proud of what the team has accomplished,” Peluso said in a statement.
TripAdvisor cofounder and CEO Steve Kaufer said Jetsetter will help the company reach out to customers interested in a members-only private-sale experience.
“Jetsetter is an outstanding brand, and I am absolutely delighted to welcome the Jetsetter team to the TripAdvisor family,” Kaufer said in a statement. “With Jetsetter and our own SniqueAway brand, we now have two leading travel private-sale sites under one roof. We are excited by the opportunities this provides to continually help drive amazing value for our travelers staying at some of the world’s most highly-rated hotels.”
Airplane sitting on mouse via Kinetic Imagery/Shutterstock
Filed under: Business, Deals
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