Hoberman, who co-founded Lastminute.com with Martha Lane Fox in 1998, has since become part-time chairman and chief strategy officer of the travel website, after it acquired by Travelocity Europe in 2005 for $1bn.
Paul Myners, chairman of Guardian Media Group, said: "His experience and entrepreneurial flair will be of great benefit to GMG as we move into an exciting period of development for the group."
He said: "The strong assets and brands within the group are well positioned to adapt to the opportunities presented by changes in technology and distribution."
Guardian Media Group appointed Carolyn McCall as chief executive in May last year, following the retirement of Sir Robert Phillis, who stood down on the grounds of ill health.
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