HBX Group acquires full ownership of PerfectStay

HBX Group acquired full ownership of PerfectStay, the Paris-based travel technology company specializing in dynamic holiday packaging solutions for airlines and major consumer brands.

HBX Group initially acquired a 25% stake in PerfectStay in June 2024, and this latest transaction brings the business fully into the Group.

The acquisition reflects a shared belief in the long-term potential of holiday packaging as a strategic growth opportunity within the B2B2C travel segment, combining complementary strengths in technology, global supply, and implementation expertise.

“This investment advances our ecosystem strategy, expanding our role across the travel value chain. By combining PerfectStay’s proven packaging technology with HBX Group’s global hotel inventory and distribution scale, we are strengthening our offering for clients looking to enter or accelerate in this market,” said Nicolas Huss, CEO of HBX Group.

Raphael Zier, Executive Chairman of PerfectStay, added: “We built PerfectStay to help major brands develop compelling holiday offerings through a winning combination of technology and implementation expertise. Fully joining HBX Group gives us access to the world’s largest hotel inventory, global scale, and the resources to accelerate delivery for our clients. For them, this means richer hotel content, improved pricing dynamics, and faster time to market.”

Expanding partnerships in B2B2C travel

The full acquisition of PerfectStay strengthens HBX Group’s ability to support partners in building and scaling holiday offerings.

Airlines, banks, and major consumer brands are increasingly looking to provide holiday packages to their customers, reflecting strong and growing interest in the segment. Holiday packaging offers attractive economics for partners in the B2B2C travel market, which is estimated at $50 billion and is growing faster than the broader travel sector.

PerfectStay already works with a growing number of airline partners to power dynamic packaging platforms, including Turkish Airlines Holidays, launched in 2025. Each platform gives customers access to HBX Group’s extensive global inventory of hotels, experiences, and transfers, powered by PerfectStay’s dynamic packaging technology. The pipeline for future partnerships remains strong.

In addition, HBX Group and PerfectStay currently power more than 55 white-label websites offering hotel and dynamic package solutions to banks, loyalty programs, and consumer brands worldwide.

Value creation and strategic alignment

The transaction, which closed on March 31, 2026, builds on HBX Group’s initial 25% investment through a long-term, performance-based structure tied to EBITDA through 2030. The earnout mechanism ensures strong alignment on value creation while avoiding any impact on 2026 cash flow and maintaining disciplined capital allocation. The consolidation of PerfectStay is not expected to materially affect HBX Group’s FY2026 guidance.

Holiday packaging continues to emerge as a strategic focus area for many partners. By fully integrating PerfectStay, HBX Group further strengthens its ability to support partners with scalable technology, global supply, and a disciplined execution model.

As part of HBX Group, PerfectStay will benefit from operational and commercial synergies, including consolidated sourcing, enhanced fintech conditions, AI-driven operations, and expanded distribution opportunities.

PerfectStay’s dynamic packaging engine and white-label storefront capabilities will be fully integrated into HBX Group’s technology infrastructure, enabling end-to-end product ownership, AI-powered pricing and customer service, faster deployment of customized travel solutions, and increased cross-selling and conversion opportunities across the HBX ecosystem.

PerfectStay will continue to operate from its Paris headquarters, supported by HBX Group’s global Technology, Product, and Sourcing teams.