Hotelbeds Group buys GTA
Bedbank Hotelbeds Group has acquired B2B travel supplier GTA for an undisclosed sum.
GTA’s previous owner, Swiss travel group Kuoni, will retain a ‘significant minority stake’ in the combined Hotelbeds/GTA business.
Spain-based Hotelbeds said the deal will boost its presence in the fast growing Asia-Pacific and Middle East markets, which is part of its growth strategy.
Its executive chairman Joan Vila said: "This deal brings another great bedbank to the Hotelbeds Group family, following the announcement in February that Tourico Holidays will also be integrating with us.
"Both of these important deals clearly underline our steadfast commitment to accelerate the growth of our business both organically and via M&A activity."
GTA is a B2B travel distributor providing hotels, transfers, and activities to the travel trade worldwide, including intermediaries, online travel agencies and travel agency retailers.
Its CEO Ivan Walter added: "We believe that today’s news is a milestone for the industry, and great news for our respective suppliers and customers. "
In September 2016 Hotelbeds became independent under the ownership of Cinven and Canada Pension Plan Investment Board (CPPIB).
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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