FastBooking attracts €35m investment

FastBooking, a service company dedicated to helping hotels develop their Internet sales, has attracted €35m investment from 3i and Edmond de Rothschild Investment Partners.

Funds managed by 3i and EdRIP are collectively investing €35 million for a 62% stake in FastBooking, whose business is valued at €45 million. The transaction provides an exit for current shareholders, Iris Capital and individuals who have supported the group since its inception. At this time, the managing founders of the company are re-investing for a total ownership of 35%.

Established in 2000, FastBooking has 3500+ client hotels worldwide with over 2 million hotel room nights booked through its platform this year.

FastBooking targets the hotelier market offering them a full range of products, including a booking engine for integration on client hotel websites, distribution websites ( e.g. www.fastbooking.com or www.only-recommended-hotels.com), a GDS/IDS network solution and e-marketing tools. FastBooking has a strong presence in most European countries and is also active in Asia and North America.

Jean-David Chamboredon, Partner at 3i Venture Capital said, "In seven years, FastBooking has built an outstanding platform for hoteliers. Additionally, the Internet user is starting to recognise the economic benefits of booking directly via hotel websites. Our role will be to support the growth and the success of FastBooking over the next 3-4 years."