January 21, 2007 / 2:25 AM / 12 years ago

First Choice buys LateRooms

LONDON (Reuters) - First Choice Holidays FCD.L said on Saturday it had bought online hotel rooms specialist LateRooms Ltd for up to 120 million pounds.

First Choice said it would pay an initial 108 million pounds and a further 12 million pounds depending on LateRooms’ performance over the next three years.

It said LateRooms, which runs the www.laterooms.com Web site, was forecast to sell 1.3 million room nights this year and has a 12 percent share of the UK online hotel booking market where an intermediary is used.

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