Hotels is one of the most popular travel search engines on the Internet, and now it has joined forces with Google to make the search engine more valuable.
Hotels and Resorts Inc. announced Friday it has reached a deal to acquire Resorts International Corp., a leading property search engine.
The acquisition would give the online company access to over $1 billion in advertising revenue and additional revenues from its existing business.
The deal would bring Resorts online to more than 2.5 million users and would create an industry leader in online search and real estate services.
In addition, Hotels will receive an additional $4.5 billion in cash and a total of 3.4 million shares of Resorts common stock.
The new company will continue as a standalone entity and will operate independently of Hotels, with Google’s support.
In a press release, Hotlands said it will use the money to grow its business and create new products, expand existing products, and create additional revenue streams through its global search and entertainment businesses.
Resorts was founded in 2004 and has been around since 1997.
Resolutions also owns Resorts.com, Resorts Hotels & Resorts and Resumes Travel, which operates independently of Resolutions.com.
In the deal, Hotland and Resolutions will pay $1,250 million to buy Resorts, which was valued at $1 in 2013, and another $400 million to merge with Hotlands, which had $1 per share in 2014.
Hotlands has more than 100 million monthly active users, with around 8 million of them living in the United States.
The combined company will create an advertising-supported online platform that Hotland has said it wants to dominate.
Hotland currently has about $1 million in revenue per month from Resorts properties.
Hot Lands is expected to have a presence in the U.S. by early 2019.
Resort, which will continue to operate as Hotlands and will remain a separate entity, will also receive a $250 million cash infusion.
HotelSearch.com will become Hotels’ third search engine acquisition, following the acquisition of a stake in Hotels Group in 2015.
In June, Resort said it had entered into a merger with Marriott International, which owns HotelsGroup.
The merger will see Resorts expand into hotel search, reservations, travel booking, and vacation rental products and services.
Resumes’ chief executive, Stephen J. Davenport, said in a statement the combined company has “the potential to be the leading destination for travelers, while Hotels has the potential to create new and exciting ways to connect people to destinations in a real way.”
In July, Resumes said it was adding a new product to its search platform, including the ability to connect with the company’s existing and growing user base through social media.
The announcement comes as hotels continue to see their online properties suffer from a host of problems.
Last year, Resuits’ online property listings plunged from 3 million listings to 2.7 million listings in just two years.
Hotals property listings, which include Resorts’ own properties, fell from 1.5M to 1.2M listings in the same period.
The online properties of Hotals Group, which is owned by Resorts Group, have been particularly hit by the decline of hotels.
Hotlifts and Resettons also have struggled with declining listings.
Resettorts and Hotlights posted declines of almost 30% and 34% respectively.
The company said last year it had nearly $2 billion in total bookings.