- Source: Hotelbeds
Hotelbeds is a travel technology company based in Palma, Majorca, Spain that operates a distribution channel for lodging businesses.
History
Hotelbeds was founded in 2001 as a unit of First Choice Holidays PLC. In 2007 First Choice Holidays PLC merged with the Tourism Division of TUI AG, forming TUI Travel PLC, with Hotelbeds as its primary brand in the Accommodation & Destinations unit, also referred as TUI Travel A&D.
A merger in 2014 between TUI Travel PLC and TUI AG led to the creation of the TUI Group. TUI Travel A&D changed its name to Hotelbeds Group and subsequently to Hotelbeds.
Hotelbeds was acquired by Cinven and CPPIB in 2016, In 2017, Tourico Holidays and GTA Travel were purchased and integrated in 2018.
During 2020 and 2021, Hotelbeds was impacted by the effects of COVID-19 pandemic in tourism. The company received additional funding from Cinven, EQT and CPPIB.
Joan Vilà, CEO, stepped down from his position in 2021 to adopt a non-executive role, while remaining a shareholder. He was succeeded by Nicolas Huss.
References
External links
Official Website