Cinven and CPPIB complete acquisition of Hotelbeds
Cinven and Canada Pension Plan Investment Board (‘CPPIB’) have today completed the acquisition of Hotelbeds Group, the global provider of travel services based in Spain, for a total enterprise value of €1.165 billion.
Cinven and CPPIB believe Hotelbeds is an attractive investment opportunity given its strong financial performance, solid underlying market growth, highly experienced management team and market consolidation opportunities across Europe, Middle East, Asia and the Americas.
Hotelbeds is well positioned to improve bedbank distribution through travel agents and tour operators globally, especially in emerging economies, through investment in its sales and contracting teams, R&D and IT systems.
Hotelbeds represents the 17th investment from Cinven's Fifth Fund.