Budgetplaces / EnGrande
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| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
* | N/A | Acquisition | |
| Total Funding | 000k | ||
| EUR | 2023 | 2024 |
|---|---|---|
| Revenues | 0000 | 0000 |
| % growth | - | 11 % |
| EBITDA | 0000 | 0000 |
| Profit | 0000 | 0000 |
| % profit margin | 9 % | 18 % |
| EV | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 |
Source: Company filings or news article
Related Content
Budgetplaces.com, operating under the trading name EnGrande S.L., was an online travel agency that carved a niche in the budget accommodation sector. The company was established in Barcelona in 2003 by John Erceg, a California native with a background as a Worldwide Market Development Manager at Hewlett Packard and an MBA from IESE Business School. Erceg identified an opportunity in the travel market by initially buying and renovating properties in Barcelona before transitioning to an online intermediary model focused on no-frills accommodation.
The initial concept was built around a target rate of 30 euros per person per night, first launched as Barcelona30.com. Following its success, the model was replicated in other major European cities like Paris, London, and Rome. This strategy led to the consolidation of these city-specific sites under a new primary brand, Budgetplaces.com, in 2008. By this time, the platform aggregated over 3,000 accommodation partners across more than 20 destinations. The business operated on a commissionable payment model where the company collected its fee directly from the customer's credit card at the time of booking, a cash-flow positive approach that eliminated the need to collect from hotels later. The customer would then pay the remaining balance upon arrival at the hotel.
A significant milestone occurred in July 2011 when Palamon Capital Partners acquired a majority stake, which fueled further international expansion. By April 2012, the platform was collaborating with over 10,000 establishments in more than 1,700 destinations worldwide and employed over 130 people. The company's success was recognized by the World Economic Forum in a 2011 report. The journey culminated in January 2017, when the eDreams ODIGEO group acquired Budgetplaces.com.
Keywords: online travel agency, budget accommodation, hotel booking, EnGrande S.L., John Erceg, Barcelona startup, budget travel, low-cost hotels, hostel booking, apartment rentals, bed and breakfasts, eDreams ODIGEO, Palamon Capital Partners, travel tech, European travel market, accommodation booking platform, online reservations, travel commission model, no-frills travel, hospitality industry