SAN MATEO, CA WorldRes.com, an Internet hotel reservation and distribution network, has secured $7 million in financing from key strategic and financial investors. Accor led the financing round with other investors including The Boston Consulting Group, Starwood Hotels & Resorts, Sandler Capital, Walden VC, Technology Funding, Fayez Sarofim, WorldView Technology Partners and Piper Jaffray Technology Capital.
WorldRes will use the capital to continue expansion of its global reservation and distribution network that connects hoteliers to travelers through electronic and Internet-based distribution channels. With this round of funding, the company is projected to achieve profitability in early 2002. (4/2/01)