The deal comes two months after Palma-headquartered Hotelbeds agreed the take over US-based Tourico Holidays.

The acquisition of GTA, which as part of the deal will also join Hotelbeds’ bedbank business unit, further grows the firm’s global B2B accommodation supply.

Joan Vilà, Hotelbeds executive chairman, said: “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.

“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.

“GTA is a very successful B2B travel distributor with a proven track-record providing hotels, transfers, and activities to the world’s travel trade including intermediaries, online travel agencies and travel agency retailers.

“Like Hotelbeds Group, it directly contracts an outstanding global portfolio of hotel and travel ancillary products that it connects and distributes via API integration or online booking platform.

“GTA’s global footprint and in particular its well-developed presence in the fast growing Asia-Pacific and Middle East markets is closely aligned to Hotelbeds Group’s growth strategy.”

Ivan Walter, GTA chief executive, added: “We are excited by the opportunity that combining forces with Hotelbeds Group brings.

“Our history and proven track record speak for themselves, and by coming together with Hotelbeds Group we can bring together a wealth of experience, commitment and a clear strategic focus on the B2B sector.

“We believe that today’s news is a milestone for the industry, and great news for our respective suppliers and customers.”