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Russian booking site Ostrovok gets $25 million funding in Russian-American pact

Dennis Schaal

Photo Credit: Ostrovok attracted $25 million in additional funding as it seeks to catch Booking.com in Russia market share. Pictured is an image from an Ostrovok advertisement.  Ostrovok

Skift Take

With only about 8% of hotel bookings in Russia taking place online, Ostrovok and its peers have epic room for growth.

Ostrovok, the two-year-old Russia online travel agency, has big plans and an alliance of American and Russian investors contributed $25 million in a Series B round to help the company achieve its dream. In its sights, co-founder and CEO Serge Faguet tells Skift, Ostrovok aims to raise another $100 million in funding in a year or two, and to reach market share parity in Russia with current hotel leader Booking.com within around four years. Russian hoteliers like Ostrovok's 14.5% commission, smaller than Booking.com's 18%, and Ostrovok's localized marketing, tech talent and fulfillment, claims Faguet, a Russian who

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