Hotelbeds acquiring Tourico Holidays
Saturday, 08 Feb, 2017
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Hotelbeds Group is to acquire Tourico Holidays for an undisclosed sum.
The Bedbank said the deal would help fuel its expansion in Tourico’s home base of North America, where Tourico is based.
Florida Tourico Holidays is a fast growing global travel wholesaler contracting directly with hotels, flights, cruise lines, attractions, car rentals, holiday homes and more.
Its ‘high volume, wholesale model’ is offered to more than 4,900 clients in 100 countries using proprietary technology.
Last April, HotelBeds was sold by TUI Group to Cinven and Canada Pension Plan Investment Board for $1.3 billion.
Hotelbeds executive chairman Joan Vila 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.
"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 for the foreseeable future as an independent business with a long-term strategy to combine the businesses.
The deal is subject to customary regulatory and anti-trust approvals.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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