Dublin's Hostelworld acquires US events firm for €10m

The acquisition was funded through a €10.3m term loan from AIB.

Ireland-based online travel accommodation firm Hostelworld Group has announced that it is to acquire US business-to-business event discovery platform OccasionGenius for $12m (€10.3m).

The acquisition was funded through a €10.3m term loan from AIB. OccasionGenius will be acquired for a total cash consideration of $12.0m on a cash-free, debt-free basis.