Tek Travels DMCC acquires majority stake in BookaBed AG

Thursday, Apr 07, 2022 0

Tek Travels DMCC, a wholly owned subsidiary of TBO Tek Limited recently announced it has acquired 51% shareholding of BookaBed AG

 TBO is one of the leading global travel distribution platforms (Source: report titled “Travel and Tourism Industry Report” issued by PGA Labs dated December 21, 2021) connecting over 100,000 travel buyers across more than 110 countries with millions of travel suppliers, as of October 31, 2021.

Investment in BookaBed will enable TBO to scale up its business’s services and offerings.

BookaBed AG, based in Switzerland, is also a B2B accommodation provider to the Irish and UK travel industries. BookaBed intends to increase its market share in Ireland and the UK by leveraging TBO’s global API business, and TBO Academy that trains and educates travel agents and travel trade partners.

Gaurav Bhatnagar, Co-Founder and Joint Managing Director of TBO, said: “We are excited to welcome everyone at BookaBed to the TBO family. BookaBed allows TBO’s entry into the Irish market and strengthens our UK presence. Both TBO and BookaBed have a significant opportunity to leverage each other’s strengths and further expand our presence in current and future markets. What really makes this truly promising is our shared core values. There are synergies in our business models and vision, but the core values we share are vital when building for the long term. Under Karl’s continued leadership, we look forward to strengthening BookaBed’s business.”

Karl Tyrrell, CEO of BookaBed, added: “We are very excited to partner with TBO and delighted to join the TBO family. As the world returns to travel, BookaBed looks forward to leveraging TBO’s technology and content. This combined with BookaBed’s deep distribution reach and market position in Ireland and the UK creates an even more compelling value for BookaBed customer partners.”

He added, “We will continue to service our customers as we currently do and promote and operate the BookaBed brand that is so well known in these markets. There will be no change to our management, sales or support teams.”

TBO has won several accolades over the years and has been consistently winning the prestigious World Travel Awards for being India’s leading B2B travel portal since 2019. Its TBO+ proposition is a comprehensive rewards program designed exclusively for buyers where they can earn reward points for each transaction done through the TBO platform and points can be redeemed for a variety of lifestyle and travel products. TBO also has a dedicated corporate travel booking platform – Paxes and their first B2C business – Zamzam.com, focused on the booming religious tourism, making TBO a truly simplified travel ecosystem.



Related News Stories :   Jumeriah Group installs face ID check-in     Largest ever biometric boarding rollout coming to Miami Airport     TA Network inks tie-up with TX Travel Indonesia     SITA: Digitalization the solution to mishandled baggage     Blue Bay Travel bolsters tech development team     Casa de Campo touts Blockchain bookings  

profileimage

Ray Monty



Most Read

Nominated for a BritishTravel Award? Here is how to help your chances of winning.

Want something different with a tour of Rome? Then have a look at CarpeDiem Rome...

ITA Airways are expanding, Andrew Bunn UKI and Nordics Manager explains

Pierfrancesco Carino VP International Sales of ITA Airways explains the strategy for the airline

Antigua and Barbuda Update on What’s New in the Hotel Sector

Get a sneak peak at the Antigua and Barbuda’s Vision 2032

Diversity within DMO’s and the European influence - We speak to Destinations International

Western Australia is open for business and we speak to Roger Cook Deputy PM of the state and MOT

Buy Now Pay Later Travel Customers Are Demanding It

Dana Young of Visit Florida turns the tables on Graham as they discuss visiting the Sunshine State

Buy Now Pay Later Travel: Customers are Demanding it

Thailand is now fully opened: Learn all about it from Markland Blaiklock, head of Centara Hotels
TRAINING & COMPETITION

Price Based Country test mode enabled for testing United States (US). You should do tests on private browsing mode. Browse in private with Firefox, Chrome and Safari