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TUI Group sells UK hotel booking website LateRooms

Reuters - UK Focus

LONDON, Oct (HKSE: 3366-OL.HK - news) 12 (Reuters) - TUI Group, the world's largest leisure tourism group, said it sold its British hotel booking website LateRooms in early October to focus on its main package holiday business.

TUI (LSE: TUI.L - news) declined to give any details on the sale, but said on Monday that it will reveal more in its December earnings release. It (Other OTC: ITGL - news) announced in May that it was putting LateRooms up for sale.

Media reports said that LateRooms had been bought by privately-held travel firm Cox & Kings (BSE: COX&KINGS6.BO - news) , which is based in India. Cox & Kings was not immediately available to comment.

LateRooms was bought for 120 million pounds ($184.34 million) in 2006 by First Choice, which the following year merged to form TUI Travel (Other OTC: TTVLF - news) . TUI Group was formed in 2014 through the merger of London-listed TUI Travel and German majority-owner TUI AG. ($1 = 0.6510 pounds) (Reporting by Sarah Young, editing by Louise Heavens)