GTA to join Hotelbeds Group[1]
– Hotelbeds Group and GTA[2] combine forces to drive distribution excellence in the B2B travel wholesaler and retail space.
– Deal brings together companies with complementary operations and geographic footprints. [3]
– Significant presence of GTA in fast growing Asia-Pacific and Middle East markets closely aligns with Hotelbeds Group´s growth strategy.
Hotelbeds Group, a global bedbank and business-to-business provider of services to the travel industry, has announced today plans for GTA to join its Bedbank business unit.
Joan Vilà, Executive Chairman of Hotelbeds Group commented: “It gives me great pleasure to announce that GTA will be joining Hotelbeds Group.
“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. [4]
“GTA is a very successful B2B travel distributor with a proven track-record providing hotels, transfers, and activities to the world’s travel trade including intermediaries, online travel agencies and travel agency retailers. Like Hotelbeds Group, it directly contracts an outstanding global portfolio of hotel and travel ancillary products that it connects and distributes via API integration or online booking platform.
“GTA’s global footprint and in particular its well-developed presence in the fast growing Asia-Pacific and Middle East markets is closely aligned to Hotelbeds Group’s growth strategy. We are looking forward to welcoming them to our Group. ”
Ivan Walter, CEO of GTA added: “We are excited by the opportunity that combining forces with Hotelbeds Group brings. Our history and proven track record speak for themselves, and by coming together with Hotelbeds Group we can bring together a wealth of experience, commitment and a clear strategic focus on the B2B sector. We believe that today’s news is a milestone for the industry, and great news for our respective suppliers and customers. ”
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[1] The deal is subject to customary Regulatory and antitrust approvals.
[2] GTA Travel is the trading name of all of the Global Travel Distribution business activity of the Kuoni Group. This deal includes GTA Travel Holding Ltd, Kuoni Holdings Plc, and indirectly all their brands including TravelCube and TravelBound – with the exception of MTS Globe, which will be bought back by its previous owner.
[3] This deal is legally structured via the 100% acquisition of the top holding company of GTA Group by Hotelbeds Group, via its UK holding entity. Kuoni shareholders led by EQT VII (a fund advised by EQT Partners), the owners of GTA, will hold a significant minority position in the combined business after the transaction. There will be no changes to the Board of Directors of Hotelbeds Group.
[4] Both the GTA and Tourico Holidays deals are separate and independent regulatory processes subject to their own individual timelines. Until each deal completes both Tourico Holidays and GTA remain entirely independent companies.
