RCG, the publicly traded travel and leisure company based in
Charlotte, N.C., announced it will acquire OneTravel, Inc. for
$25.5 million.
This announcement comes just a little over a week after RCG
completed its acquisition of 1-800-CHEAPSEATS. This effectively
transforms RCG from a predominantly offline tour operator into a
full service online and offline travel company.
RCG chairman William Goldstein stated that the company will now
have in excess of 2 million opt-in registered users across all
brands.
“This acquisition puts RCG in a position to achieve in excess of
$300 million in gross bookings for the 12 months post closing,”
stated Goldstein.
In 2004, OneTravel generated $94 million in gross bookings,
which nets out to approximately $8.2 million in revenues.
Besides operating a direct-to-consumer business through a
variety of Web sites, OneTravel provides tech solutions and support
services that allow organizations such as the Travel Channel and
Sam’s Club to operate in the online travel arena.
“We are very excited about becoming an integral part of RCG,”
said Philip Ferri, OneTravel president.
RCG also operates SunTrips, one of the largest leisure travel
tour operators in the U.S.
