Categories: InternationalNews

Travelport Secures $200 Million Investment to Further Propel Tech Innovation

Travelport, a global technology company that powers travel bookings for hundreds of thousands of travel suppliers worldwide, today announced a $200 million investment from the company’s owners, Siris Capital Group and Elliott Management. Following a strong first quarter performance, including best-in-class tech achievements and the acquisition of Deem, the new injection of capital will allow the company to continue executing against its aggressive growth strategy.

“The $200 million investment from our owners, Siris Capital Group and Elliott Management, reflect their confidence in Travelport and the continued recovery of the travel industry,” said Greg Webb, CEO of Travelport. “The main advantage of private equity ownership is agility, which is crucial in a rapidly changing environment. This investment will allow Travelport to further advance its tech innovations, while fueling the company’s momentum.”

Related: Travelport rebrands and reveals striking new identity

This month alone, Travelport:

  • Announced the game-changing acquisition of Deem, a leading corporate travel management platform, in order to fulfill a growing need for a tight, fully-integrated tool that provides access to all multi-source content, including NDC.
  • Launched Smartpoint Cloud, delivering a more intuitive and efficient way for travel agents to sell and service travel, all while increasing sales of higher-value services for suppliers.
  • Became the first GDS to offer a complete solution for American Airlines’ NDC content. The company’s next-generation platform, Travelport+, has had NDC content from American Airlines live for nearly a year now; and as of mid-March, the content is live across the entire Travelport portfolio.

The $200 million investment, along with a recent refinancing that received the support of 100% of Travelport’s First Lien Lenders and materially lowered the company’s cash interest expense, provides Travelport with significant liquidity while demonstrating investors’ strong belief in the company’s bright future.

About Travelport

Travelport is a global technology company that powers bookings for hundreds of thousands of travel suppliers worldwide. Buyers and sellers of travel are connected by the company’s next generation marketplace, Travelport+, which simplifies how brands connect, upgrades how travel is sold, and enables modern digital retailing. Headquartered in London, United Kingdom and operating in more than 165 countries around the world, Travelport is focused on driving innovation that simplifies the complex travel ecosystem.

ResortTrades

Recent Posts

The Death of the Linear Career Path

Once upon a time, the blueprint for a successful career was simple and predictable. You…

5 days ago

Colebrook Financial Finances Indian Palms Intervals Improvements

Colebrook Financial Company, a leading lender to the timeshare and travel club industries has provided…

6 days ago

Refurbishment Hacks: How to Maximize Your Budget in 2024

Let’s face it, resort refurbishments are inevitable. But here’s the good news: a well-planned upgrade…

6 days ago

Shopr Rewards Expands Advisory Board with Appointment of Rinaldo Fernandez

Shopr Rewards (“Shopr” or the “company”), an innovative provider of instant cash back rewards in…

7 days ago

Wyndham Grand Orlando Resort Bonnet Creek Appoints New Senior Sales Manager

Wyndham Grand Orlando Resort Bonnet Creek has named Laurie Helley as its new Senior Sales…

1 week ago

Grand Pacific Resorts Partners with Keep Tahoe Blue in Beach Clean-up

Grand Pacific Resorts recently partnered with The League To Save Lake Tahoe, also known as Keep Tahoe Blue,…

2 weeks ago