Expedia acquires Las Vegas company Travelscape.com for $95 million

Monday, Jan. 31, 2000 | 2:44 a.m.

The most visited Internet travel company in the nation has acquired Las Vegas-based Travelscape.com in a $95 million stock deal.

Bellevue, Wash.-based Expedia Inc., a company spun off by Microsoft Corp. late last year, announced Monday it bought two Internet travel companies in separate transactions.

A spokesman for Travelscape.com, which has discounted rate contracts with more than 1,200 hotels in 240 cities worldwide, said the company would continue to operate under its present management. No layoffs or staff changes are planned.

Expedia also acquired VacationSpot.com Inc., an online reservation network for vacation homes, condominiums and bed-and-breakfast operations worldwide, for $82 million.

"The combination of the broad and unique selection of getaways from VacationSpot.com, discounted hotel rates from Travelscape.com and the Expedia hotel directory creates the largest most compelling lodging offering on the Internet," said Richard Barton, president and chief executive officer of Expedia.

Travelscape.com attempted to go public last year, but withdrew its filings in August when the market for technology stocks faltered.