Remark Media Buys Hotelmobi

(RTTNews) - Remark Media, Inc. (MARK) said Wednesday that it has acquired Hotelmobi, a company engaged in the development, ownership and operation of hotel booking applications.

Remark Media anticipates that Hotelmobi's "Roomlia" application will launch domestically in the third quarter of 2014. An Asia-based launch is currently planned for the first half of 2015.

According to PhoCusWright estimates, 25% of US online travel bookings will be made on a mobile device by 2015. Since 2011, mobile travel bookings in the US have grown 6.5x to $13 billion. By 2015, that amount is expected to surge to $40 billion.