A Polish e-commerce and media company is acquiring Szallas Group, which operates the hotel platform Travelminit.ro in Romania, from the company’s majority shareholder, PortfoLion Capital Partners, and several private individuals, including the founders of Travelminit.ro, according to News.ro.
Wirtualna Polska Holding, a publicly traded company based in Warsaw, is acquiring Szallas Group.
The transaction is one of the largest acquisitions in the tourism sector in the Central and Eastern European region, valued at EUR 72 million, plus the company’s net cash, estimated at EUR 10 million at the closing date of the transaction.
Through subsequent acquisitions and organic growth, according to the cited source, Szallas Group’s revenues increased tenfold, with the total value of transactions reaching EUR 200 million and over 1 million bookings—in the period from June 2021 to 2022, up from EUR 20 million in the year prior to the PortfoLion acquisition.
In July 2022, the company’s website and services were used by 22 million Poles. Since 2015, Wirtualna Polska Holding S.A. has been listed on the Warsaw Stock Exchange.
Frequently Asked Questions
Who is acquiring Szallas Group?
Wirtualna Polska Holding, a Warsaw-listed e-commerce and media company, is acquiring the group.
What is the value of the transaction?
The deal is valued at EUR 72 million plus approximately EUR 10 million in net cash.
Which Romanian platform is part of this deal?
Travelminit.ro, a prominent hotel booking platform in Romania, is operated by Szallas Group and included in the acquisition.