Argentina/Region: Despegar snaps up travel agencies in Chile, Colombia and Peru

Online travel agency Despegar (Despegar.com) has acquired the network of travel agencies held by its Chilean counterpart Falabella, with assets in Chile, Colombia, Peru and Argentina, in a transaction valued at US$27 million and whose objective will be to increase the brick-and-mortar footprint of Despegar throughout the continent.

The agreement involves a ten-year commercial agreement, during which both companies will operate a multi-channel business, with Despegar operating within Falabella’s physical network, while Despegar will continue with the Chilean operator CMR’s loyalty program.

“We are delighted to have entered into this agreement with Falabella, which will allow us to further strengthen our leadership position in the Latin American travel market …”, said Despegar CEO, Damián Scokin, in an interview for tech portal FayerWayer.