Webjet has announced it is acquiring Dubai-based travel firm Destinations of the World.
It will pay private equity firm Gulf Capital $173 million for the business, and DOTW will join Webjet’s WebBeds division.
The addition of B2B platform DOTW will take WebBed’s hotel portfolio to more than 250,000 and expand total sales volume to more than US$2 billion.
DOTW has a presence across Asia Pacific, the Middle East, Europe and the Americas.
“WebBeds is focused on helping our clients succeed. The acquisition of DOTW will ensure we can accomplish this on an even greater scale,” said Webjet CEO John Guscic.
The deal is expected to complete later this month and Gulf Capital will retain a stake in Webjet.