Despegar Finds Acquisition Bargains in Latin America's Hard-Hit Economies


Skift Take

At the beginning of the pandemic, it was clear there would be plenty of mergers and acquisition targets. Despegar found at least a couple in Viajanet and Stays.

Despegar is hanging in there performance-wise, has high hopes for a pending acquisition of Viajanet at what might be considered an attractive price, and is investing in Brazil and Colombia to pick up market share.

Argentina-based Despegar, which does business in its largest market, Brazil, through its Decolar brand, intends to buy flight online travel agency Viajanet for $15 million based on a collapsed airline market — at half of Viajanet's $30 million in 2019 revenue. Despegar expects the deal to close in late June or early July.

During its first quarter earnings call Thursday, officials discussed diversifying Viajane