Webres - NOAH12 San Francisco


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Presentation given at NOAH Conference San Francisco on June 26 2012 www.noah-conference.com

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Webres - NOAH12 San Francisco

  1. 1. Feargal MooneyCEO, Web Reservations International Noah US Conference - June 2012
  2. 2. Overview of WRI Global expansion of WRI’s Property Base 1999 2002 2003 - 2005 2006 - 2009 2010 - 2012Start-up Profit • Strong organic growth • Backpack Online • Building management • Hostels.com acquisition • Asia expansion • iPhone & Android • Summit Partners • Bedandbreakfastworld.com • South America • Hellman & Friedman • Local focus Headquartered in Dublin with ~130 employees (inc. Shanghai, Sydney, Sao Paulo) 30,000 independently owned and operated properties in ~200 countries; ~3,000 affiliate sites High EBITDA margin operation 2
  3. 3. Market Opportunity – two sets of customersLeading online distribution Leading global accommodation site for channel for providers of travellers seeking value and a rich social value accommodation experience as they “see more world” around the world 41+ yrs• Hostels 7% 31-40 yrs• Guesthouses 13% Groups & 18-24 yrs• B&Bs 43% Youth Couples• Pousadas 25-30 yrs• Independent budget hotels 37%  Clear market leader at Independent >4x nearest direct competitor  $30 billion global market opportunity* *WRI estimate based on Euromonitor data 3
  4. 4. Product overview and business Property Management Software Consumer websites with global reach • Hostelworld.com: Great Hostels, Great Places, Great People • Hostels.com: Make your trip go further •Bedandbreakfastworld.com : Friendly stays in a homely setting • Mobile, iPhone, Android : Book your bed on the move Efficient Business Model Bookings by Nationality Bookings by Destination 90% Spain USA Italy Others Australia Others England HW Hostel England USA 10% Germany Germany Italy Spain NL France China France Sth Korea Canada IRL Aus Brazil 4 4
  5. 5. KPIs > 120m site visits > 5 million reservations > 25 million bednights ~ $600m TTV accommodation booked Strong double digit revenue growth 50% EBITDA margins 5
  6. 6. Partnership / M&A as Vehicle to Build our Business in North America M&A Targeting Criteria 1. Add Product Supply in Good Demand Locations  Sites with directly contracted B&B, independent hotel, motel, and camping inventory. 2. EBITDA Positive and growing;  EBITDA breakeven to €5M, ideally with double digit growth 3. Strong Local Site Traffic  New travel markets (e.g. domestic trips) and/or access new customer segments (e.g. older independent travellers etc.) 4. Ease of business model  Similar business model to WRI. Will consider listing model businesses.  Technology providers with critical mass of independent accommodation clients. 5. Management Team strength 6 6
  7. 7. Actively Marketing Hostels http://www.youtube.com/watch?v=WsfBOzLIG2k 7 7
  8. 8. NOAH Advisors - Europe’s Leading Internet Corporate Finance Boutique Selected Completed NOAH Transactions May 2012 April 2012 Unique Industry Know-How Core Investment Banking Competence Sale of a 100%-stake in 100% focused on Internet companies, covering  The NOAH team has 25+ years of media 150 million growth equity investment from over 25 sub-verticals in this highly complex investment banking experience industry - Routine execution of M&A and financing for a 50% stake alongside Fotolia’s Founders and to - 15+ years active coverage of leading European transactions with sizes of several billion euros Internet companies and investors  The team has been working together closely for 7 Additional $150 million senior debt financing Total $300 million investment Deep understanding of industry dynamics and years (including 6 years at Lehman Brothers) Financial Advisor to Fotolia and its Shareholders Financial Advisor to Toprural and its Shareholders thinking of industry leaders  8 successfully completed NOAH Advisors Ability to add value beyond banking advice transactions underline successful transfer of - Facilitates overall process and minimizes competencies to the Internet sector November 2011 July 2011 management distraction Sale of a majority stake in Sale of a majority stake in Unmatched Network and Relationships Full Commitment - We Are Entrepreneurs! NOAH Advisors is globally very well connected  The NOAH team are entrepreneurs and focused to to and has direct access to virtually all key players in on growing the business and establishing a Quants Financial Services AG the industry reputation for excellence Exclusive Financial Advisor to - Knowledge of and strong relationships with  Full commitment to deliver top quality results in grupfoni and its Shareholders Advisor to EnGrande potential buyers’ key decision makers short time frames - Coverage of over 500 companies and 4,000  Highly success-based compensation structures individuals align interests of clients and NOAH Advisors, and April 2011 April 2011 - Proactively finds and unlocks attractive demonstrate conviction to deliver top results Sale of a majority stake in investment opportunities for leading have acquired a majority stake in investors (e.g. Bigpoint) Annual NOAH Conference to for $350m from The NOAH Advisors Core Team Exclusive Advisor to Advisor to Yatego Summit Partners and TA Associates Marco Yoram Jan Rodzynek Wijngaarde Brandes December 2009 April 2009 Managing Director Director Director Partial sale of $80m partial sale of and Founder to toContact Details Contact Details Contact Details Valuing Softonic at €175mmarco.rodzynek@noah-advisors.com yoram.wijngaarde@noah-advisors.com jan.brandes@noah-advisors.com Advisor to Softonic Advisor to FotoliaUK Mobile: +44 77 85 330 330 UK Mobile: +44 79 17 084 784 German Mobile: +49 174 2010 984Swiss Mobile: + 41 79958 1512
  9. 9. Introduction to the NOAH Conference Overview of the NOAH Conference 2011 The NOAH Conference is an annual Internet event taking place once a Summary Overview Conference Program year in London, focused on top management from Internet start-ups to global media companies as well as senior investment professionals  NOAH ‘11 took place on 9-10 November 2011 at Old NOAH’s goal is to create a marketplace for the European Internet eco- Billingsgate in London system to discuss key trends, generate business and facilitate  Fantastic line-up of 90 speakers from 20 countries in keynotes, investment transactions presentations and panels over 2 full days Over the past 3 years numerous high-profile speakers presented at  1,150 attendees from 35 countries – 57% from Internet NOAH, including over 100 CEOs companies, 26% from investors, 15% from corporates (media The NOAH Conference was founded in 2009 by Marco Rodzynek and is companies, advisors, PR and recruiting) and 2% press organised by the NOAH Advisors team with sponsorship from some of representatives from leading on- and offline publications the world’s leading financial investors  NOAH party with additional guests from London and a great live band on the evening of the first day NOAH ‘12 on 6-7 November – Save the Date  Extremely positive feedback from numerous attendees, on twitter and in the press The conference will again take place at Old Billingsgate in London Registration will open in early 2012 Selected Conference Impressions For updates, please check: www.noah-conference.com Event Sponsors Strategic Sponsors