Luxembourg / Germany: Alternative accommodation marketplace HomeToGo has announced the acquisition of Frankfurt-based internet company e-domizil GmbH from e-vacation Group Holding GmbH for €40 million.
The purchase price includes a payment of around €2 million in class A shares owned by HomeToGo, which is subject to customary purchase price adjustment mechanisms.
Founded in 2000, e-domizil focuses on the procurement of individual travel experience products, ranging from vacation rentals to cruises and round trips. The company comprises of brands including e-domizil, PREMIUM SELECTION by e-domizil, tourist-online.de, BELLEVUE Ferienhaus, and atraveo, which also runs TUI Villas.
Offering inventory in markets such as Austria, Croatia, Denmark, Germany, France, Italy, Spain and Switzerland, e-domizil lists more than 370,000 offers across domains in 14 countries and reported International Financial Reporting Standards [IFRS] revenues of more than €20 million in 2021.
The purchase will significantly contribute to HomeToGo’s developing onsite business in addition to its global expansion.
Looking ahead, HomeToGo has presented an ambitious financial outlook to grow its business to €1 billion in booking revenues by 2028-29, having gone public on the Frankfurt Stock Exchange in September in a €1.2 billion [$1.41 billion] transaction.
In a bid to become the “go-to destination” for travellers seeking comprehensive inventory, HomeToGo has set out to create and develop new technology solutions for its partners, which it says will “elevate” the entire vacation rental industry.
In addition to the immediate incoming investment, the company is prioritising scaling its Subscriptions & Services platform, focusing on growth in the United States, and accelerating its global expansion through strategic mergers and acquisitions [M&A].
e-domizil represents HomeToGo’s second acquisition since going public, following its purchase of AMIVAC, the vacation rental business unit of Groupe SeLoger, in January.
Dr. Patrick Andrae, co-founder and CEO of HomeToGo, said: “We are excited to be adding one of our core and trusted partners, e-domizil GmbH, and its brands to HomeToGo’s ecosystem. The team at e-domizil has more than 20 years experience of working directly with property managers, who will now be able to benefit from our global reach and technology services.
“With strong inventory, our guests have access to a wide range of vacation rentals, notably across the most attractive holiday destinations in Europe. Combining this with e-domizil’s continued profitable growth as well as accretive take rate is the perfect complement to our growing onsite business.
“We are delighted to welcome e-domizil and its teams to HomeToGo,” he added.
Tom Müller, CEO of e-domizil GmbH, said: “The alternative accommodation industry has drastically accelerated in the past few years, and HomeToGo has been one of the leading players given its comprehensive inventory, best-in-class customer experience, and wealth of technology solutions for its partners. Joining HomeToGo gives both our property managers and hosts increased visibility globally as well as access to HomeToGo’s growing software services to better serve our guests.
“We look forward to seeing the new opportunities HomeToGo will bring to our team and vacation rental brands,” he added.
e-domizil’s offices, teams and management will remain in operation in Germany and Switzerland before joining the HomeToGo Group team of 400+ employees to create new synergies and promote innovation.