Why Online Travel Companies Are Buying Restaurant Reservation Operators
Lately, increased M&A activity has been observed in the online restaurant reservation space. TripAdvisor, the world’s largest travel review company, acquired French site LaFourchette for $140 million last month. LaFourchette is one of the leading Internet and mobile restaurant reservation systems in Europe, with over 12,000 participating restaurants. In a similar move this month, Priceline, the world’s biggest online travel agency by revenues, acquired North America’s leading restaurant reservation service, OpenTable, for $2.6 billion.
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