Hotelbeds Agrees to Buy Wholesaler GTA
Photo Credit: Hotelbeds Group is buying GTA. The deal is still subject to regulatory approval. Hotelbeds Group
Skift Take
Hotelbeds appears determined to buy up the competition in order to retain its dominant position. What is unclear though is what happens to Kuoni Group once the transaction completes as GTA represents almost two-thirds of its turnover. Will it continue on as a smaller company or continue to be broken up?
There looks set to be further consolidation in the wholesale accommodation sector after market leader Hotelbeds Group announced a deal to buy rival GTA from Kuoni Group.
The new owners of Hotelbeds, Cinven Capital Management and the Canada Pension Plan Investment Board have pursued an aggressive strategy of consolidation since purchasing the company from tour operator TUI Group for $1.3 billion.
Wholesalers like Hotelbeds source rooms and other travel products before selling them on to tour operators, airlines and travel agents.
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