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Short stories and posts about the daily news happenings around the travel industry.

Travel Technology

Hotelbeds Touts New General Counsel’s IPO Experience

7 months ago

Hotelbeds, which reportedly hired bankers a couple of months ago to ready an initial public offering, has appointed a new general counsel, and the hotel wholesaler touted her experience in compliance and taking companies public.

Source: Hotelbeds

Sagrario Fernández, who now leads Hotelbeds’ legal and compliance teams, “brings a wealth of experience in IPO processes gained at private security services firm Prosegur Cash and Indra, a Spain-based IT and defence systems company, as well as in M&A and capital markets transactions,” the Hotelbeds announcement stated.

Fernández most recently was general counsel at Dia Group, a publicly traded Spain-based food chain with more than 30,000 employees.

Palma, Spain-headquartered Hotelbeds, which offers wholesale hotel rooms to tour operators, travel agents and airlines, was acquired by private equity firm Cinven and the Canada Pension Plan Investment Board from TUI Group in 2016 for 1.17 billion euros. Its valuation is said to currently be in the range of $4.9 billion to $6 billion (4.5 billion and 5.5 billion euros), according to the publication Expansion.

The company offers hotels from some 1995 destinations, and has more than 3,000 employees.

“Sagrario will play a key role in leading our strategic initiatives and will take Hotelbeds to new heights,” said Hotelbeds CEO Nicolas Huss said in a statement. “We are confident that, thanks to her extensive knowledge and experience, she will further strengthen our position as a leader in the global travel industry.”

Perhaps Fernández is another piece in Hotelbeds’ IPO considerations.

Travel Technology

Hotelbeds Hires Banks to Prepare IPO

8 months ago

Buyout fund Cinven and Canadian pension fund CPPIB have hired Morgan Stanley and Evercore to prepare an initial public offering for Hotelbeds, Expansion newspaper reported on Friday citing unidentified market sources.

Hotelbeds, a company based in Palma de Mallorca which sells hotels rooms to wholesale customers such as travel agencies and tour operators, is worth between 4.5 billion and 5.5 billion euros ($4.89 billion-$5.97 billion), Expansion said.

Cinven and CPPIB, which bought Hotelbeds from German tourism group TUI in 2016 in a deal worth 1.17 billion euros, could opt for a direct sale, the newspaper said.

Spokespeople at Hotelbeds, Cinven, CPPIB, Morgan Stanley and Evercore did not immediately return messages seeking comment.

($1 = 0.9209 euros) (Reporting by Inti Landauro; editing by Jason Neely)

This article was from Reuters and was legally licensed through the Industry Dive Content Marketplace. Please direct all licensing questions to [email protected].

Tags: hotelbeds, ipo