Global – Hotelbeds Group and Tourico Holidays have joined forces to drive innovation in the B2B bedbank space, combining companies with complementary geographic footprints.
Joan Vilà, Executive Chairman of Hotelbeds Group said that with the backing of Cinven and CPPIB, the group will enter the next phase of its development since becoming an independent company back in September.
For the time being, both businesses will continue as usual. Vilà added, “The proposed deal will enable us to enhance our footprint, especially in Tourico Holidays’ home market of North America whilst they will benefit from belonging to Hotelbeds Group's global network. Together we will combine our best-in-class technology and distribution expertise for the benefit of both our hotel partners and clients.”
Tourico Holidays will continue to operate as an independent business while a long-term strategy is developed to find the most appropriate way to combine the businesses.
The transaction is subject to customary regulatory and anti-trust approvals.
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