Cox & Kings Group has acquired the U.K.-based LateRooms, an online hotel booking firm, for GBP 8.5 million (Rs.85 crore) from TUI Group. LateRooms offers a full range of accommodation options with over 54,800 properties globally, which can be booked up to a year in advance. A profit making entity LateRooms has a 3.5 million opted-in and active consumer database and operates a single web platform, which optimises the website for mobile device usage. Following the announcement, Cox & Kings shares closed with a loss of 0.32 per cent at Rs.246.25 on the BSE.
