Hotelbeds Group
| Limited liability company | |
| ISIN | 🆔 |
| Industry | Hospitality, Tourism |
| Founded 📆 | 2001 |
| Founder 👔 | |
| Headquarters 🏙️ | Palma de Mallorca, Spain |
Area served 🗺️ | Global |
Key people | Joan Vilà (Executive Chairman) |
| Products 📟 | Travel services |
| Members | |
Number of employees | +5,000 (2018) |
| 🌐 Website | group |
| 📇 Address | |
| 📞 telephone | |
Hotelbeds Group is a travel technology company that operates a hotel distribution platform accessed by travel agents and tour operators to make hotel bookings for their customers. It is the world’s largest bedbank, offering rooms to travel agencies and airlines from its database of 72,000 beds.[1] Headquartered in Palma de Mallorca, it reported turnover of 1.06 billion euros and underlying EBITA of 69 million in the year to end September 2015[2]. It is led by Executive Chairman, Joan Vilà, and it has around 5,000 employees globally[3].
It was founded in 2001 and until September 2016 was owned by TUI Group, before becoming independent with the backing of two private equity funds, Cinven and Canada Pension Plan Investment Board (CPPIB), for a purchase price of around 1.3 billion euros[4].
In 2017 the Group acquired two competitors, Tourico Holidays[5] and GTA[6], for a rumoured total of over 1.3 billion euros; and in March 2018 it announced the sale of its Destination Management business back to TUI for 110 million euros[7].
In September 2018, Hotelbeds Group announced a partnership with Singapore Airlines. The collaboration enables the airline to use Hotelbeds’ platform to allow their customers to create their own holiday packages through the 170,000 hotels available from Hotelbeds’ portfolio[8]
References
- ↑ McClean, Paul (28 April 2016). "Tui to sell Hotelbeds Group for €1.2bn". Financial Times. Retrieved 25 July 2018.
- ↑ Bryan, Victoria (28 April 2016). "TUI sells Hotelbeds business for $1.3 billion". Reuters. Retrieved 25 April 2018.
- ↑ Hayhurst, Lee (28 March 2018). "Hotelbeds to focus on tech and bed bank after completing €110m Tui deal". Travolution. Retrieved 9 July 2018.
- ↑ Bray, Chad (28 April 2016). "TUI Group to Sell Hotelbeds Group for $1.3 Billion". The New York Times. Retrieved 9 July 2018.
- ↑ Ruckin, Claire (16 February 2017). "LPC-Hotelbeds funds Tourico buy with an extra €170m of loans". Reuters. Retrieved 9 July 2018.
- ↑ Cowen, Martin (4 October 2017). "Hotelbeds completes GTA deal and lays down challenge to Expedia and Priceline". Tnooz. Retrieved 9 July 2018.
- ↑ "TUI buys Hotelbeds business to sell extra activities to holidaymakers". Reuters. 28 March 2018. Retrieved 9 July 2018.
- ↑ Christian (6 September 2018). "Hotelbeds and SIA announce holiday packaging partnership". Travel Daily Media. Retrieved 7 September 2018.
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