AlbionVentures

Active Hotels

September 2004 funds managed by Albion Ventures realised their holding in Active Hotels for a consideration of £10.4 million receivable in cash, following the £90 million sale of Active to PriceLine.com Inc., the Nasdaq-listed provider of internet-based travel services. The funds' originally invested £1million in Active in October 2001. The sale represented a total return of over 10 times the funds' initial investment.

Active Hotels is one of Europe’s leading online reservation providers to the hotel industry which grew dramatically and at the time of the sale to Priceline.com Inc serviced over 7,500 hotels across 1,500 websites, resulting in sales of over 1.7 million hotel room nights per annum.