Equity firm buys Dublin-based online accomodation company

Private equity investment firm, Hellman and Friedman LLC have bought the Dublin-headquartered online hostel and budget accommodation management firm Web Reservations International (WRI).

Through its flagship brand, Hostelworld.com, its property management solutions are used by more than 23,000 accommodation providers in 180 countries.

Hostelworld.com has sold over 70 million beds and processed over 15 million customer bookings since its inception 10 years ago.

WRI sold €350m worth of accommodation in 2008, generating net revenues of €38m.

Its websites include www.hostelworld.com, www.hostels.com, www.boo.com, www.bedandbreakfastworld.com and www.trav.com.

WRI is headquartered in Dublin where it employs 93 people and has offices in Shanghai and Sydney.