PALMA – Hotelbeds Group, a global bedbank and business-to-business provider of services to the travel industry, has confirmed that – following the closure of the customary regulatory and legal procedures – GTA has officially joined the Group.[1]
A strategic integration plan is now underway to integrate both GTA and Tourico Holidays – which joined the Group in June – into Hotelbeds Group in a phased approach.
In the future, both hotel and ancillary partners, as well as travel intermediary clients, of all three companies will have access to an integrated and enhanced range of services, products and technology solutions drawn from the combination of all three.
To reflect the new combined organisation and to drive forward the integration across all functions, the new leadership team of the Group was today confirmed to employees globally and published on Hotelbeds Group/s website.
Joan Vila remains Executive Chairman of Hotelbeds Group, with Carlos Munoz continuing in his role as Managing Director Bedbank with the responsibility to manage the integration of the three businesses. Current Finance Director, Andres Garcia takes on the Finance responsibility for the enlarged Group. Additionally various existing GTA, Tourico Holidays and Hotelbeds Group senior executives are taking leading roles across the enlarged organisation.
This morning the Group also confirmed that leading travel-technology executive Jose Antonio Tazon has been appointed Senior Non-Executive Director of the Board of Directors and Chairman of the Advisory Committee, reflecting the Group/s status as both an independent and significantly larger company.
Joan Vila, Executive Chairman of Hotelbeds Group commented: “It gives me enormous pleasure to confirm that yet another leading bedbank – following the inclusion of Tourico Holidays in June – is now officially part of Hotelbeds Group.
“With both GTA and Tourico Holidays now part of our family, we can focus on realizing our ambition of becoming the very best travel trade partner by providing access to the best teams, products and data analysis in the industry, all backed up by an innovative technology platform.
“Today's news represents a landmark for our business, almost exactly one year since we became independent with the backing of Cinven & CPPIB. Therefore, as part of our growth strategy and significantly enlarged status, we are pleased to announce that Jose Antonio Tazon – whose experience of the travel technology industry is second-to-none – has joined our Board of Directors as a Senior Non-Executive Director and additionally has become the Chairman of our Advisory Committee.
“We look forward to updating our partners on the progress of the integration and making further announcements about our ambitious plans in due course.”
Since joining Hotelbeds Group in June, significant progress has already been made to integrate Tourico Holidays, including the selection of the IT platform and architecture for the enlarged group. Over the coming months the company will provide frequent updates on how its integration is progressing and what this means for its valued partners.
[1] This deal is legally structured via the 100% acquisition of the top holding company of GTA Group by Hotelbeds Group, via its UK holding entity. Kuoni shareholders led by EQT VII (a fund advised by EQT Partners), the owners of GTA, will hold a significant minority position in the combined business after the transaction.
