Tourico Acquired By Hotelbeds Group
by Jessica MontevagoHotelbeds Group announced Tuesday it will buy wholesaler Tourico Holidays for an undisclosed amount, including its technology development operation in Israel.
Spain-based Hotelbeds offers rooms from its database of 120,000 hotels to travel agencies and airlines. It was sold by TUI Group in April to Cinven and Canada Pension Plan Investment Board for $1.3 billion.
The deal allows the company to expand its presence in Tourico’s home market of North America and Latin America, where it serves 4,900 clients.
“Tourico Holidays will continue to operate as an independent business while a long-term strategy is developed to find the most appropriate way to combine the businesses,” the companies said in a statement.
