Wirtualna Polska buys travel platform Szallas Group for EUR 82 million
13:12
Wirtualna Polska has bought Szallas Group which operates the largest national travel portals for booking accommodation in Hungary, the Czech Republic, Romania, Poland, and Croatia. The deal value is EUR 72 million, plus net cash in the company of about EUR 10 million as of the closing date of the transaction.
With this acquisition, Wirtualna Polska aims to create the largest group in the area of tourism booking in Central and Eastern Europe. WP already has in its portfolio Poland’s largest accommodation intermediary nocowanie.pl.
“The purchase of Szallas Group is the first foreign investment, a breakthrough in the development of Wirtualna Polska Holding,” the company said. The Szallas Group currently offers 87,000 accommodation properties in five markets. Last year alone, customers made more than one million reservations for a total value of 200 million euros.
