Hotelbeds Group has completed the takeover of travel services wholesaler GTA after being given clearance by regulators.
Global bed bank Hotelbeds announced plans to buy GTA in April, which will now be integrated into Hotelbeds, alongside previous acquisition Tourico Holidays, in a “phased approach”.
Hotelbeds, which is based in Majorca, said this integration of the three companies “confirms its position as a leading distributor of hotels and ancillaries to the travel trade”.
Joan Vila, executive chairman of Hotelbeds Group said: “It gives me enormous pleasure to confirm that yet another leading bed bank – following the inclusion of Tourico Holidays in June – is now officially part of Hotelbeds Group.
“With both GTA and Tourico Holidays now part of our family, we can focus on realising our ambition of becoming the very best travel trade partner by providing access to the best teams, products and data analysis in the industry, all backed up by an innovative technology platform.”
Hotelbeds was sold by Tui Group for €1.2 billion in 2016 to private equity group Cinven and Canada Pension Plan Investment Board.