According to El Confidencial, private equity firms from England and Scandinavia, Cinven and EQT, along with Canada’s CPPI pension fund, are reportedly considering the sale of Hotelbeds for approximately €3 billion. This move has garnered interest from major players like Booking and Expedia, among others.
While there are no confirmed offers at this stage, this potential sale could shape up to be one of the largest venture capital deals in 2023.
These investment funds are looking to capitalize on the robust recovery Hotelbeds has experienced since the end of the Covid pandemic. In 2022, Hotelbeds recorded an EBITDA of €161 million, reducing its losses by an impressive 287%.
Hotelbeds also boasts an average of over 4 billion daily searches and historic booking figures. As reported by Preferente, these projections indicate that Hotelbeds could surpass last year’s record-breaking business volume by up to 30%.
As of now, none of the investment funds have provided official statements regarding the potential sale. However, they acknowledge that several companies have expressed interest in the market. They believe that 2023 presents an opportune moment to sell, as waiting until 2024 would necessitate a refinancing process.
Hotelbeds is a global business-to-business (B2B) travel platform that provides a wide range of services and accommodations to travel industry professionals such as travel agencies, tour operators, and airlines. They offer a comprehensive inventory of hotels, transfers, activities, and other travel products, connecting buyers with suppliers worldwide. Hotelbeds plays a key role in facilitating travel bookings and arrangements for various travel businesses.
