Hotelbeds Group, the global provider of travel services based in Spain, has been acquired by European private equity firm Cinven and Canada Pension Plan Investment Board.
They bought the company from Tui Group, along with management led by Joan Vilà, CEO, for a total enterprise value of €1.165 billion.
Established in 2001, Hotelbeds is a large independent business-to-business bedbank globally, offering hotel rooms to the travel industry from its inventory of 75,000 hotels in over 180 countries to its customer base across more than 120 source markets.
In addition to hotel accommodation, the company provides transfers, excursions and tours, meetings and events, visa processing outsourcing and cruise handling services.
Hotelbeds’ main clients are tour operators, travel agencies, corporate clients and consumers.
Headquartered in Palma de Mallorca, and employs 6,150 people worldwide.