Hotelbeds Group’s Merger with Tourico Holidays Brings in Innovation and Larger Footprint in India
Hotelbeds Group and Tourico Holidays combine forces to drive innovation in the B2B Bedbank space. Deal will combine companies with complementary geographic footprints.
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Hotelbeds Group, a global bedbank and business-to-business provider of services to the travel industry, has announced today plans for Tourico Holidays to merge with its Bedbank business unit.
Commenting on the news, Joan Vilà, Executive Chairman of Hotelbeds Group said: “With the backing of Cinven and CPPIB we are entering the next phase of our development since becoming an independent company back in September. Therefore it gives me great pleasure to announce that Tourico Holidays will join Hotelbeds Group. Tourico Holidays has a well-deserved reputation for excellence and innovation that I have respected for many years. I look forward to working with its experienced leadership team.
“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. For the time being, both businesses will continue as usual, focusing on our top priority: providing the best possible service to our hotel partners and clients.”
