INFORM
WORDS MOLLY DYSON
TRAVELPORT ACQUIRED FOR $4.4BN
STAYCITY OPENS FOURTH DUBLIN PROPERTY
APARTHOTEL COMPANY STAYCITY opened its fourth property in Dublin in December, offering customers a choice of 50 apartments. Located on Dublin 8’s Chancery Lane, the property features 49 studios
that each accommodate up to two guests, as well as one two-bedroom apartment sleeping up to four people. On-site facilities include a Staycafe serving hot and cold drinks, as well as guest laundry and 24-hour reception. All apartments come with air conditioning, high-speed broadband, flat-
screen TV, rainfall shower, Hypnos beds and a kitchen with dishwasher, fridge, twin hob and combo microwave/oven.
TRAVELPORT HAS SIGNED AN agreement to be acquired by two specialist private equity firms for US$4.4 billion. Affiliates of Siris Capital
Group, LLC and Evergreen Coast Capital Corp signed the deal for the all-cash transaction, which will see them buy all outstanding common shares in Travelport. The sale is expected to be completed in Q2 of 2019.
REPORT SLAMS RAIL INDUSTRY
MPs ON THE TRANSPORT COMMITTEE have said last summer’s rail chaos should be a catalyst for “genuine change” and labelled the rise in fares this year as “adding insult to injury” for passengers. The committee also said season ticket holders on the worst-affected lines should receive a discount on their 2019 tickets “equivalent to the price rise”. The report, Rail timetable changes: May 2018, concluded that the chaos caused by new timetables was partly due to the “astonishing complexity” of the fragmented railway system. MPs said the system could not cope with the scale of the change, which affected more than half the railway network.
22 JANUARY/FEBRUARY 2019
MPs also put some of the blame on transport secretary Chris Grayling, saying he had the “ultimate authority to judge the trade-offs between competing commercial interests”. While the committee conceded Grayling did not receive all relevant information, they said he should have been “more proactive” and so cannot “absolve himself completely of all responsibility”. Grayling has shifted blame on to rail operators
and Network Rail. He has opened a review of the rail industry, which is due to produce a whitepaper by this autumn. He has also told Govia Thameslink Railway (GTR) to contribute £15 million towards “tangible improvements for passengers”.
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