Global bedbank and B2B service provider HotelBeds Group has announced plans to merge its business unit with US-based Tourico Holidays.
The merger will mark the company’s move into the next phase of development since it became independent last September with the backing of Cinven and CPPIB, said Joan Vilà, executive chairman of Hotelbeds Group.
“The proposed deal will enable us to enhance our footprint, especially in Tourico Holidays’ home market of North America whilst (Tourico) will benefit from belonging to Hotelbeds Group’s global network,” added Vilà.
“Together we will combine our best in class technology and distribution expertise for the benefit of both our hotel partners and clients."
For now, it will be business as usual at both companies, while development of a long-term strategy to combine the businesses gets underway.
No date has been announced for the transaction, which is subject to customary regulatory and anti-trust approvals.