Travelocity Global has announced it has reached an agreement to sell the Holiday Autos brand to Dublin based car rental solutions provider, CarTrawler for an undisclosed sum.
The deal sees CarTrawler, acquire rights and intangible assets of the Holiday Autos Directs and White Label business.
These include the brand, URLs and domain names, subsidiary brands - including Mietwagen, carhire4less, elmundoencoche, degrifauto and bookanddrive – white label and marketing contracts and intellectual property.
Under a separate agreement, CarTrawler will become the exclusive provider of car rental to lastminute.com, a company which is part of Travelocity Global.
The decision to sell the Holiday Autos brand, which it has owned since 2003, aligns with Travelocity Global’s strategy to focus on its core business and key priorities, as well as to strengthen investment in its primary online travel brands.
Matthew Crummack, president. Travelocity Europe, commented: “For the last ten years the Holiday Autos brand has been integral to Travelocity Global, and it has been our privilege to support the Holiday Autos team in their dedication to growing the business to become one of Europe’s most recognised, respected and leading car hire brokers as it is today.
“The time is now right however, for its further success to be developed by CarTrawler.
“Their compelling vision and investment plans for the Holiday Autos brand make it the best custodian for its future growth.”
“Travelocity Global is currently assessing options for the Holiday Autos Trade business which is not part of the CarTrawler acquisition.
“One option, pending further review and consultation across each of our countries, may be exiting the intensively competitive car rental Trade sector,” Crummack added.