Russian tech giant Yandex is reportedly the leading bidder to acquire travel booking platform Ostrovok in a deal valued at 15–20 billion rubles ($211–282 million).
Yandex, Russia’s largest internet and technology company, has emerged as the main contender to buy Ostrovok, one of the country’s biggest online travel agencies (OTAs), Kommersant newspaper reported, citing four market sources.
Representatives of both companies declined to comment. According to three sources cited by Kommersant, two other potential buyers — Avito, Russia’s leading online classifieds platform, and Sutochno.ru, a short-term rental booking service — have exited the negotiations.
Reports that Ostrovok’s owners were considering a sale first surfaced in November 2025 in Izvestia newspaper, which said nearly all major players in Russia’s travel market had shown interest. One source told Kommersant the owners initially sought 27 billion rubles ($380 million) for the company, but discussions later shifted closer to 20 billion rubles ($282 million), partly due to the strengthening of the Russian currency.
Sources said current talks with Yandex are focused primarily on valuation. Yandex is reportedly unwilling to pay more than 15 billion rubles ($211 million) for the business. Industry analysts note that weakening conditions in the tourism sector have strengthened buyers’ negotiating positions.
Total travel bookings for the upcoming summer season have fallen 12% year-on-year, largely because Russian travel companies no longer offer many popular Middle Eastern destinations. Some major OTAs have also been losing market share amid pressure from smaller competitors, disputes with hotel operators, and expansion by Chinese travel platform Trip.com.
One source told Kommersant that Yandex’s main motivation is to absorb a key competitor and strengthen its position in Russia’s online travel market. Ostrovok currently ranks among the country’s largest OTAs. According to travel technology company Travelline, the platform accounted for 24.8% of hotel bookings made through OTAs in early May 2026, up slightly from a year earlier.
Its closest rivals are Yandex Travel, Yandex’s own travel booking service, and Acase.ru, another platform controlled by Yandex. Together, the two services represented 34.9% of OTA hotel bookings in Russia.
Leonid Pustov, head of the startup commission at the Russian Union of Travel Industry, said acquiring Ostrovok would give Yandex a market position comparable to that once held by Booking.com before the global travel platform exited Russia in 2022.
Pustov added that Yandex may also be interested in Ostrovok’s stronger B2B operations, including partnerships with travel agencies, tour operators, and corporate clients. Building a competitive B2B travel platform from scratch would be difficult, he said, noting that Ostrovok spent a decade developing the segment.
Industry experts also warned that any deal would require approval from Russia’s Federal Antimonopoly Service (FAS), the country’s competition regulator, and that the review process could be challenging.
Russian regulators examine all transactions worth more than 7 billion rubles ($99 million), particularly deals that could significantly increase market concentration. Analysts said the FAS could impose conditions on Yandex if it determines the company would gain a dominant market position, including potential restrictions on raising commissions charged to hotels. However, approval may be easier to secure if Ostrovok continues operating as a formally independent brand.
Source: Kommersant
