Google funds Secret Escapes

BTN News
Monday, 27 July 2015
Luxury holidays deals web site Secret Escapes has won a GBP39 million investment from Google's venture arm to fuel its global expansion plans, including into Asia.

The five-year-old site offers upmarket hotel stays at a discount, with total disclosed funding now more than GBP45 million.

“Secret Escapes has brought deals to millions of customers seeking luxury travel accommodations and continues to expand its business into global markets. The company’s growing partnership base gives it a significant advantage to connect world class hotels with travellers,” said Google Ventures partner Tom Hulme, who will join the Secret Escapes board.

Secret Escapes already is profitable in the UK market and is “well on its way” in other European markets and the US, where it launched at the end of 2014, co-founder Tom Valentine said.

The new investment will fund expansion beyond the 13 countries it currently operates in with ambitions to become a “multi-billion pound turnover business by the end of the decade”.

Turnover hit GBP75 million in 2013 and revenue has grown 260 per cent year-on-year.

Google funds Secret Escapes

BTN News
Monday, 27 July 2015
Luxury holidays deals web site Secret Escapes has won a GBP39 million investment from Google's venture arm to fuel its global expansion plans, including into Asia.

The five-year-old site offers upmarket hotel stays at a discount, with total disclosed funding now more than GBP45 million.

“Secret Escapes has brought deals to millions of customers seeking luxury travel accommodations and continues to expand its business into global markets. The company’s growing partnership base gives it a significant advantage to connect world class hotels with travellers,” said Google Ventures partner Tom Hulme, who will join the Secret Escapes board.

Secret Escapes already is profitable in the UK market and is “well on its way” in other European markets and the US, where it launched at the end of 2014, co-founder Tom Valentine said.

The new investment will fund expansion beyond the 13 countries it currently operates in with ambitions to become a “multi-billion pound turnover business by the end of the decade”.

Turnover hit GBP75 million in 2013 and revenue has grown 260 per cent year-on-year.