Cinven and Canada Pension Plan investment Board (CPPIB) have together completed the procedures pertaining to acquisition of Hotelbeds Group, a top-ranking provider of services to the global travel trade. .
Announcing the completion of the acquisition process, Joan Vila, Executive Chairman of Hotelbeds, said that becoming an independent company with the support from Cinven and CPIBB allowed them to invest and remain focused on their three core capabilities such as technology, innovation and distribution.
Thus, Hotelbeds Group will further enhance its portfolio of revenue-generating services for customers owing allegiance to the fast-growing bedbank sector which witnessed consolidated growth and opportunities.
Hotelbeds Group plays a significant role in reshaping travel with their industry partners.