Priceline Group agreed to acquire a minority stake in Brazil-based
online travel agency Hotel Urbano for $60 million.
As part of the agreement, Hotel Urbano users will be
connected to Priceline Group’s inventory of more than 680,000 hotels, while
Hotel Urbano’s non-Latin America room hotel bookings will be done through
Priceline’s Booking.com. The percentage of Hotel Urbano that Priceline Group
will acquire wasn’t disclosed.
Hotel Urbano was founded in 2011 and provides listings to
more than 8,000 hotels throughout Brazil.