Wednesday,  February 21, 2024 12:51 PM 

Hotelbeds Group announces plans to join with Tourico Holidays

Hotelbeds Group announces plans to join with Tourico Holidays

Hotelbeds Group have announced plans for Tourico Holidays to merge with its Bedbank business unit.

Joan Vila, executive chairman of Hotelbeds Group, commented, “with the backing of Cinven and CPPIB, we are entering the next phase of our development since becoming an independent company back in Sepember. Therefore, it gives me great pleasure to announce that Tourico Holidays will join Hotelbeds Group. Tourico Holidays has a well-deserved reputation for excellence and innovation that I have respected for many years. I look forward to working with its experienced leadership team.

“The proposed deal will enable us to enhance our footprint, especially in Tourico Holidays’ home market of North America whilst they will benefit from belonging to Hotelbeds Group’s global network. Together, we will combine our best in class technology and distribution expertise for the benefit of both our hotel partners and clients.”

Tourico Holidays CEO Uri Argov commented, “we’re very excited about what this deal can mean to the B2B travel industry. Tourico Holidays’ management team looks forward to bringing together these two great businesses in order to better serve our combined supplier and client base. At a cultural level, this deal is strong because our two organizations are both entrepreneurial, dynamic and high energy – and just like Hotelbeds Group, we’re passionate about what we do and focus hard on execution.”

Tourico Holidays will continue to operate as an independent business while a long-term strategy is developed to find the most appropriate way to combine the businesses.