Web Reservations International, which provides an automated booking service for hostels worldwide, has been bought for a figure thought to be in excess of €200m by US investment company Hellman & Friedman. The main beneficiaries of the purchase of the Dublin-based company are WRI's founders, Ray Nolan and Thomas Kennedy.

WRI's main website is hostelword.com but it also operates a number of other sites. In 2008 it generated net revenues of €38m after selling accommodation worth €350m.

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