Hotelbeds sells destination management unit to TUI for €110 million
Following the integration of Tourico Holidays and GTA, there are now over 170,000 hotels selling to over 60,000 travel intermediaries globally via Hotelbeds' proprietary B2B platform.
TUI will acquire for an enterprise value of €110 million all of the assets of Hotelbeds Group´s Destination Management division, which represents the Group´s incoming services offering and is made up of three main global brands: Destination Services, Intercruises Shoreside & Port Services, and Pacific World.
This news follows Hotelbeds Group doubling the size of its business by sales through the acquisitions during 2017 of Tourico Holidays and GTA, two leading bedbanks with a strong presence in North America and Asia-Pacific respectively. Following the integration of these two leading bedbank brands into the Group, there are now over 170,000 hotels selling to over 60,000 travel intermediaries globally via the Group´s proprietary B2B technology platform.
The transaction is subject to customary regulatory and anti-trust approvals.