Already a leading travel technology company and travel marketplace in North America, Mondee is continuing an expansion that also includes its acquisitions of Orinter in January and Interep earlier in May, the company said in a Monday (May 15) press release.
“The recent acquisitions of Orinter, Interep and now Consolid further reinforce Mondee’s growing market presence in Brazil, Mexico and throughout the Americas,” Mondee Chairman, CEO and founder Prasad Gundumogula said in the release. “Our strategy is to continue expanding our footprint in [Latin America] and other attractive global regions through the acquisition of businesses that complement and synergize with our existing solutions, thereby enhancing our expert-backed experiential content.”
With the acquisition of Consolid by Mondee, Consolid’s travel content will be distributed to the 55,000 travel affiliates and 125 million closed group members that are within Mondee’s network, according to the release.
Mondee also plans to add FinTech and ancillary solutions to Consolid while also optimizing expenses, the release said.
“The entire Consolid team is excited to join the Mondee family and work towards unlocking the global growth potential of our combined offerings and capabilities, with early emphasis in Mexico and more broadly across [Latin America],” Consolid CEO Judith Guerra Aguijosa said in the release. “We look forward to leveraging Mondee’s cutting-edge technology and industry-leading expertise to enhance our customers’ travel experiences.”
PYMNTS research has found that a growing number of consumers are using apps and websites to plan and book vacations.
Sixteen percent more consumers are checking travel information online than did so a year before, and 16% more are also purchasing airfare online, according to “The ConnectedEconomy™ Monthly Report: Digitally Divided: Work, Health and the Income Gap.”
The acquisition of Consolid comes about 10 months after Mondee and special purpose acquisition company (SPAC) ITHAX completed their business combination, and Mondee began trading on Nasdaq.
Gundumogula said at the time of the July announcement that the business combination would enable the company to accelerate its growth.
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