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Hotelbeds Group sells Destination Management division to TUI

Hotelbeds Group, the world's leading bedbank, has announced the sale of its Destination Management division to TUI, the world's leading tourism group, as continuation of Hotelbeds Group’s strategic focus on its bedbank core.

TUI will acquire for an enterprise value of €110 million all of the assets of Hotbeds Group's Destination Management division, which represents the Group´s incoming services offering and is made up of three main global brands: Destination Services, Intercruises Shoreside & Port Services, and Pacific World.

This news follows Hotelbeds Group doubling the size of its business by sales through the acquisitions during 2017 of Tourico Holidays and GTA, two leading bedbanks with a strong presence in North America and Asia-Pacific respectively. Following the integration of these two leading bedbank brands into the Group, there are now over 170,000 hotels selling to over 60,000 travel intermediaries globally via the Group's proprietary B2B technology platform.

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