The Hotelbeds Group is a global provider of travel services. It has the world's largest 'bedbank', which provides the travel industry with access to hotel rooms from an inventory of 75,000 hotels in more than 180 countries. In addition to hotel accommodation, the Group provides transfers, excursions and tours, meetings and events, visa processing and cruise handling services.
Its client base includes tour operators, travel agencies, corporate clients and consumers.
Hotelbeds is headquartered in Palma de Mallorca, Spain. It was established in 2002 and employs over 6,000 people worldwide.
Cinven acquired Hotelbeds alongside the Canada Pension Plan Investment Board, from Tui Group for an enterprise value of €1.165 billion. Cinven's Business Services and TMT Sector teams, together with its Iberia Regional team, identified the Group as an attractive investment opportunity.
Hotelbeds has delivered strong organic growth, driven by a highly capable management team and attractive structural market growth dynamics.
The Group's Bedbank business has generated strong financial performance with double-digit volume growth over the past five years. The increase in global hotel bookings and a continuing shift from offline to online bookings across the travel industry is expected to drive Hotelbeds' strong underlying future growth.
In addition, Cinven believes there is an opportunity to consolidate the hotel booking markets in Europe, the Middle East, Asia and the Americas, given consumer demand for a wider selection of hotels and activities and market fragmentation. By pursuing a buy and build strategy, customers can benefit from economies of scale and the Group can potentially increase profitability.
There is also an opportunity to improve bedbank distribution through travel agents and tour operators, particularly in emerging economies, with investment in both the Group's sales and contracting team, as well as its information technology systems to improve customer efficiencies and services.
- 4 October 2017:
Hotelbeds Group confirms position as a leading distributor of hotels and ancillaries to the travel trade
- 21 April 2017:
GTA to join Hotelbeds Group1
- 7 February 2017:
Tourico Holidays joins Hotelbeds Group1
- 12 September 2016:
Cinven and CPPIB complete acquisition of Hotelbeds
- 28 April 2016:
Cinven and Canada Pension Plan Investment Board to acquire Hotelbeds Group