Private equity firm Court Square Capital Partners acquired a majority stake in business-to-business hotel and vacation rental provider Getaroom for an undisclosed amount, Skift reported.
Getaroom works with online travel agencies, metasearch sites, airlines, destinations and membership clubs. President Bob Diener told Skift he expects Getaroom to make more than $1 billion in gross sales in 2018.
Diener and his partner, CEO Dave Litman, maintained a substantial minority stake after the deal closed Aug. 23, according to the report.
Houlihan Lokey served as Getaroom's financial adviser, and Lidji Dorey & Hooper served as its legal adviser. Dechert LLP served as legal adviser to Court Square.