Hotel booking engine Profitroom has sold a majority stake in the business to MCI Capital.
The €67 million deal hands over 65% to the venture capital business with founders Marcin Dragan and Krysztof Grzęda retaining the rest and continuing to lead the business.
The funds will help Poland-based Profitroom, which helps hotels attract direct bookings, expand across Europe, Africa and Asia.
"Profitroom's profitability has consistently fueled our reinvestment into further development," said Dragan, the CEO. "With our new partnership, our aim is clear: to embark on an accelerated growth trajectory through amplified investment in innovative products.
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"MCI's substantial investment in Profitroom, valued at €67 million, provides a significant boost to our ongoing growth efforts. Since our inception, we've pursued ambitious plans for substantial growth and delivering cutting-edge technology to support direct booking strategies."
The deal comes on top of a recent spate of merger and acquisition activity across the travel industry with some predicting deal flow in 2024 will return to, or exceed, pre-pandemic levels.