Sale of Hotelbeds is ‘most likely outcome’
A strategic review of Hotelbeds is most likely to lead to a sale, TUI chief executive Peter Long has confirmed.
He said although a final decision has not yet been made, the most likely outcome is that TUI will enter a sale process.
The bedbank reported an 18% growth in room nights for the financial year to September 30, and a 26% growth in TTV (time to value).
TUI said Hotelbeds is now being run as an independent business.
"This approach provides us with full flexibility and we are evaluating all our options how to best proceed with the strategy to maximise the growth and value of Hotelbeds Group, including potential disposal," it said.
The B2B accommodation wholesaler has operations in over 100 countries.
"This market position has been achieved predominantly by growing the business organically and we continue to outperform the market," said TUI.
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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