Transaction Rationale

  • The online accommodation bookings market has proven to be a massive opportunity. Gross bookings of the European hotel sector are estimated to total about €85 billion per annum, of which online bookings currently account for around €14 billion
  • The European budget accommodation sector itself is currently worth approximately €15 billion per annum and is rapidly growing, in part due to the expansion of low cost carriers
  • The fragmented nature of accommodation suppliers and their low online penetration presents EnGrande with a strong opportunity to accelerate the growth of its network of providers
  • A key part of the growth plan is a shared commitment to grow the platform to become the leader in the budget accommodation category
  • Palamon Capital Partners is a leading European mid-market private equity firm
  • The terms of the transaction were not disclosed

Overview of EnGrande

  • EnGrande S.L. (“EnGrande” or “the Company”) was established in 2003 by founder and CEO John Erceg to generate bookings for budget hotels and apartments
  • Following a period of rapid expansion across Europe and selected cities in America and Asia-Pacific, the Company now has more than 7,000 establishments worldwide directly contracted to its service and processes more than €80 million of bookings per annum
  • EnGrande’s websites, which include, and a network of dedicated 30’s city websites, such as and, are aimed at cost-conscious, mostly European leisure and business travellers
  • The Company employs 85 staff and is headquartered in Barcelona with offices in New York and Dublin
  • The EnGrande team is passionate about finding new well-located, cheap and clean establishments, partnering with hoteliers to fill their rooms profitably with a unique easy-to-use backoffice system which offers maximum administrative efficiency

NOAH Advisors’ Role

  • EnGrande decided to partner with NOAH Advisors, following inbound interest to acquire the Company
  • EnGrande and NOAH Advisors worked together intensively on exploring a wide range of strategic alternatives, while the Company grew from strength to strength was able to scale its platform rapidly
  • NOAH Advisors acted as exclusive M&A financial advisor to EnGrande