Hungaryʼs Szallas.hu, an online service for booking commercial accommodation, has acquired Polish peer Spanie.pl; the two companies are expected to merge by September this year, Hungarian news agency MTI reported Wednesday.
Péter Sziebig, head of the Szallas.hu groupʼs Polish office, told MTI that after the integration, the Polish site, which has five million visitors a year, will operate under the name Nocleg.pl, the brand name currently used in Poland by the Hungarian online booking company.
Szallas.hu said it financed the transaction from its own funds but would not reveal the value of the deal, citing business confidentiality.
The Polish company, a major operator on Polandʼs online booking market, has annual revenues of a few hundreds of millions of forints, Sziebig said.
Szallas.hu plans to further strengthen its presence in Romania, Croatia, Slovakia, Slovenia and Austria, countries where it is already present. The firm had revenues of HUF 23.5 billion in 2017, up from HUF 16 bln in 2016.