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WVR GROUP ANNOUNCES FORMATION OF LEADING ONLINE DISTRIBUTION CHANNEL FOR HOLIDAY RENTALS

19th July 05: for immediate release
NEWS RELEASE

WVR GROUP ANNOUNCES FORMATION OF LEADING ONLINE DISTRIBUTION CHANNEL FOR HOLIDAY RENTALS

British Technology Drives Acquisition of Leading UK Holiday Property Service

Award winning British technology is to be the driving force behind the world’s dominant internet classified listings business for holiday rentals following the acquisition of Holiday-Rentals.com by Texas based company WVR Group.

The transaction will create the largest international online distribution channel for vacation rental properties, encompassing over 55,000 individual properties. Led by an experienced team of online and travel industry experts, WVR Group attracted significant investments from leading US venture capital firms, Austin Ventures and Redpoint Ventures, as well as from Richard Coundley and Marcelle Speller, the co-founders of Holiday-Rentals.com.

WVR Group CEO Brian Sharples expects to dramatically enhance the experience of finding and securing holiday rental properties for consumers: “Vacation rentals represent a $30 billion slice of the travel industry and have always been an attractive alternative to hotels” he said. “We intend to combine our worldwide base of properties with leading-edge technology based on Holiday-Rentals.com’s well-proven systems, to make it easier than ever for travellers to find and secure a home or condo for their next vacation.”

Holiday-Rentals.com’s website technology, TRIPS, which won the prestigious New Media Age award in 2003 will become the backbone for operations; forming a multi-lingual, multi-currency, multi-brand, worldwide database of holiday rental properties.

For existing Holiday-Rentals.com advertisers and visitors it will be business as usual, but with more properties and improved services and features, delivered within shorter timeframes, due to the increase in investment and resources.

Richard Coundley and Marcelle Speller, co-founders of Holiday-Rentals.com are significant shareholders in the new company and hold senior positions in it. Richard becomes President, Europe and sits on the Board of Directors of WVR Group in the USA whilst Marcelle takes the role of VP European Operations and Marketing.

Marcelle Speller, comments: “We are extremely proud that our UK-developed online publishing technology has been recognised as being world-class in its design and functionality. The investment made by WVR Group will enable even stronger growth and allow us to offer enhanced services to site visitors, as well as providing vast opportunities for owners and managers of holiday rentals properties.”

Holiday-Rentals.com joins previously acquired brands www.cyberrentals.com, www.greatrentals.com, www.a1vacations.com and www.rent101.com

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For further press information contact:
Sarah Johnson, Flair PR on 020 7274 9608, sarah@flairpr.com
Marcelle Speller, Holiday-Rentals.com on 020 8743 5577, Marcelle@holiday-rentals.com