Travelport is planning to sell its Hotelzon division to corporate travel agency startup TripStax, which was officially launched earlier this year — by two former execs at Travelport.
Hotelzon claims to offer 1.5 million properties from multiple content sources that include Booking.com and Expedia, and says it has 370,000 users, including travel agencies, corporations and event management companies.
It was established in 1972, but has been a wholly-owned subsidiary of Travelport since 2014.
TripStax signed the agreement to acquire Hotelzon as of Dec. 1 2022. Terms of the deal were not disclosed, but TripStax said the agreement establishes a “long-term strategic relationship between TripStax and Travelport whereby Hotelzon will continue to generate hotel bookings on Travelport+.”
Travelport has been streamlining its technology since it announced Travelport+ in April last year.
Skift first revealed the development of TripStax as a spin-off from corporate travel agency ATPI in July 2021. TripStax’s investors include Intermediate Capital Group, which is one of ATPI Group’s owners. ATPI also made a significant investment, with ATPI CEO Ian Sinderson joining TripStax as a director.
Jack Ramsey, CEO of TripStax, was previously global sales director at Hotelzon.
The Unbundling Trend
TripStax said the acquisition will boost its technology offering of “connected proprietary business travel modules with a fully integrated hotel booking tool for agencies and corporates direct.”
The travel agency startup wants to stand out from the crowd by offering modules, such as analytics, content and traveler tracking, rather than a full service. Corporate travel agencies are under growing pressure to separate their bundled services as company travel managers look to cut costs and add flexibility.
Hotelzon will be integrated as an additional module.
It is the second acquisition made by TripStax, following its purchase of TapTrip earlier in the year. TapTrip also received investment from ATPI.
“Since its conception, TripStax has been on the look-out for acquisitions which add relevant and complementary tech to its already powerful stack of business travel management modules,” said Ramsay. “We are also excited to welcome the hugely experienced Hotelzon team to the TripStax business and plan to further invest in the team to strengthen existing customer and supplier relationships and realise the full potential of this joint opportunity.”