Yes. The domain was bought by HRS (Hotel Reservation Service) from Germany. Hyphenated domains are more common in Germany than in the US, because hyphens make two-word domains more readable. I still think that it's a high price, but it is in no way unrealistic.
The domain was brokered by Sedo, which also sold other domains to HRS lately. For example: WellnessHotels.com (â¬41,650) and Hotel-Reservierung.de ($34,510; "hotel reservation" in German).
By the way, Hotel-Reservation.com was indirectly owned by Sedo, because the former owner, DomCollect, belongs to Sedo as far as I know. DomCollect is one of Germany's largest domain owners with a portfolio of more than 100,000 domains.