Hotel business travel booking platform Hotel Engine has
secured a $140 million investment from global private equity firm Permira,
which the company will use to support its expansion beyond hotel content, the
company announced.
The investment comes in advance of Hotel Engine’s plans to
launch flight and rental car bookings on its platform in October, at which time
it also will drop the “Hotel” from its name to be known as simply
“Engine.” The platform also has focused heavily on group business
travel, including the
launch of a new “RFP Wizard” last month to help hotels respond to
group requests for proposal.
“Hotel bookings will always be in our DNA, but we’re
out to transform the entire travel experience,” Hotel Engine CEO Elia
Wallen said in a statement.
With Permira’s Series 3 growth investment, Permira principal
Alex Melamud also has been given a seat on Hotel Engine’s board of directors.
Hotel Engine reports its current valuation at $2.1 billion.
