WebReservations International is a well know actor of the online travel industry. They bought the famous Worldres in 2005 and is now at the head of the following major online brands: hostelworld.com, worldres.com, hostels.com and trav.com. Hostelworld provides the hostels product of RyanAir’s website (whereas Expedia provides the hotel product).

Web Reservations International CEO and Co-Founder, Ray Nolan, stated in January 2007 that “Google throws you the Yellow Pages and says go find it yourself“. Ray Nolan also had good things to say about the aggregators, stating: “For any one destination, there are probably only 10 places you really want to stay, but the aggregators will make you go through 20 pages of hotels”.

As far as we know the new website (whose name has not been revealed yet) will be a fusion of social networking, travel information (with a system of reviews) and online booking system. It has been rumored that investment for this project might be as high as €30million. WRI planned to launch the website on Wednesday (tomorrow), back up with a large marketing budget.

I can’t wait to see this new product; at least on the paper the new website looks quite challenging! I hope it will meet my our expectations… Stay tunned.

Via Sunday Business Post
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