GTA is joining the Hotelbeds family after Kuoni sold GTA, its global travel distribution business division (not including MTS Globe).
Kuoni will maintain a “substantial minority stake in the combined Hotelbeds/GTA business”, it said in a statement released today.
No further details regarding the purchase price or their contract were disclosed and the acquisition is subject to approval by the relevant competition authorities.
This purchase comes hot on the heels of an earlier deal that Hotelbeds made to buy US-based Tourico Holidays.
“It gives me great pleasure to announce that GTA will be joining Hotelbeds Group. This deal brings another great bedbank to the Hotelbeds Group family, following the announcement in February that Tourico Holidays will also be integrating with us,” said Hotelbeds executive chairman, Joan Vilà.
“Both of these important deals clearly underline our steadfast commitment to accelerate the growth of our business both organically and via merger and acquisition activity,” added Vilà.
GTA is an industry pioneer leading global distributor that provides travel companies with easy access to hotel accommodation and destination services. It sells approximately 40,000 room nights per day online, and are particularly sourced from markets in Asia, the Middle East and Africa.
