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Berlin, January 15, 2014 — Secret Escapes today confirms it now owns 100% of Berlin-based startup JustBook, the award-winning mobile and web platform for exclusive hotel deals.
Secret Escapes is the London-based flash sales for luxury travel site offering its members exclusive deals on hotels and holidays at up to 70% off. Co-founded by CEO Alex Saint, managing director Tom Valentine and chief commercial officer Troy Collins, the company has seen year-on-year revenue growth of over 300% and the membership base grow to over four million members in the UK alone.
As the company looks to replicate the great success of its UK business in new European markets, this acquisition, for an undisclosed amount, represents a serious commitment to winning the online and mobile luxury travel market in Germany in 2014.
Combining the flash sales for luxury travel model with JustBook's successful mobile-last minute travel deals (a similar model to that of US-based Hotel Tonight), Secret Escapes will be able to offer unmatched travel deals to all consumers as it continues to grow in and beyond Europe. The group of companies now boast five million members in Europe.
Additionally, by acquiring a top-class management team in Berlin, as well as JustBook's domestic sales team on the ground, Secret Escapes hopes to accelerate its growth in Germany, which has already seen the membership base grow to 200,000 since launching in spring 2013.
Secret Escapes CEO, Alex Saint, said:
"This is a very exciting acquisition for us, and our first on the continent, and we're very pleased to be able to integrate a highly innovative company with our own. We were already making great strides in replicating the success of our UK business in this market, but by joining forces with the JustBook team, we will be able to reap the benefits of solid mobile and app-savvy tech as well as a first-class management and sales team."
Stefan Menden, managing director of JustBook, said:
“With JustBook we brought innovation to hotel bookings. When Secret Escapes approached us, we were extremely excited by the opportunity. We share a common understanding for the importance of an outstanding product, a perfect customer experience and mobile as a disruptive platform.”
JustBook founders - Stefan Menden, Ognjen Zeric and Sebastian Fallert - and the complete team of 25 will run the Secret Escapes Germany business and build the mobile strategy for the wider Secret Escapes group.
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