Palma de Mallorca, SPAIN (September 12, 2016) — The acquisition of Hotelbeds Group, the global provider of travel services based in Spain, by Cinven and Canada Pension Plan Investment Board (‘CPPIB’) has been completed today.
Under the continued leadership of Joan Vilà and his management team and with the backing of strong investors, Hotelbeds is well positioned to consolidate its leading position in some of the fast growing segments of the travel trade.
Joan Vilà, Executive Chairman of Hotelbeds Group, commented:
“Becoming an independent company with the backing of Cinven and CPPIB now allows us to invest and focus strongly on our three core capabilities: technology, innovation and distribution – further enhancing our portfolio of revenue-generating services for customers, in particular in the fast-growing bedbank sector where we see strong growth and consolidation opportunities.”
