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Cox & Kings pays Tui just £8.5m for LateRooms

Luxury
Edward Robertson
13 October 2015

The Cox & Kings Group has confirmed it bought LateRooms for £8.5 million from the Tui Group.

Tui headquarters

The hotel-booking site offers more than 54,800 rooms worldwide with an active consumer database of 3.5 million while it received 93 million visits for the year ending September 30, 2015.

During that period, it generated a total transactional value of £300 million while net revenues were £50 million.

Tui originally refused to disclose the details of the deal when it was announced yesterday.

Cox & Kings director Peter Kirker said the site was bough in a bid to help the operator expand its online and B2C leisure offering.