GCA Advises Tablet on Its Acquisition by Michelin
Tablet, the first online travel agency to specialize in boutique and luxury hotels, was founded in 2000 by Laurent Vernhes and Michael Davis. Based in New York, it features around 3,500 hand-picked hotels in over 120 countries and is trusted by more than 40,000 active customers every year. Its industry-leading membership club, Tablet Plus, a paid loyalty program with over 12,000 members, provides perks such as room upgrades, free breakfast, airport transfers or spa credits in participating hotels.
Tablet will work with Michelin to launch innovations that will add further value to its membership, deliver more exclusive access to the worlds of travel, dining and culture, and expand further into the global market.
Pascal Couasnon, director of gastronomic and tourist activities of the Michelin group, said: “Travelers and foodies are now looking for experiences which tell a story and which help them discover a universe where they can show their appreciation of the local cultures. Tablet is part of this new lifestyle that fully corresponds to the ethos of the Michelin guides. We want to offer our readers the best by revealing places that offer this extra soul and express the fruit of the work of hoteliers and passionate chefs alike.”
Laurent Vernhes and Michael Davis, co-founders of Tablet, added: “Michelin and Tablet share an unbiased approach to curation. Our dedication to integrity has made us leaders in our respective fields, and now we’re combining forces for a ground-breaking union that will change the scale of Tablet and transform the Tablet Plus program. Likewise, hotel reservations driven by expert curation and exclusive privileges will be a significant addition to Michelin’s travel portfolio.”
GCA acted as exclusive financial advisor to Tablet on this transaction.
GCA is a global investment bank that provides strategic M&A and capital markets advisory services to growth companies and market leaders. The firm offers worldwide coverage with over 400 professionals in 18 offices across America, Asia and Europe. Built by the people that run the business, GCA is a firm of experts who focus on deals that require commitment, original perspective, skill and exceptional networks. Learn more at www.gcaglobal.com.