APN News & Media has bought a 20% stake in online tourism service www.roamfree.com , which it claims has the potential to become the Google of the global accommodation industry.
APN’s online subsidiary will invest up to $20m in the business, which enables customers to search, compare and book accommodation and then pay the provider directly on a single platform.
Warren Lee APN Online CEO said: “The roamfree.com model is unique – there is nothing else like it in the market.
“We believe that Roamfree has the potential to become the Google of the global accommodation industry.”
Roamfree.com managing director Tony Smith said: “We welcome APN’s investment as it is a clear show of confidence in Roamfree and its strategy to become the leading provider of online search for global accommodation. APN is an ideal cornerstone investor for us not only for their broad reach in the media but for their collection of high-volume web sites that will all connect to roamfree.com.”
Smith said that there was currently more than 100,000 accommodation providers listed on the site but it wants to reach a million, making it the largest global accommodation search engine in the world.
Roamfree’s technology will also feed information on room availability to last-minute websites and the websites of all major travel agents, visitor centres and automobile clubs, it claims.
