TUI Group to offload Hotelbeds for £930 million

Fri, 29 Apr 2016 | DIVISION SALE

The multinational firm behind UK travel company Thomson is selling off its Hotelbeds division for £930 million as it looks to double down on its core business interests.

TUI Group began looking for potential suitors last year, with analysts predicting that the B2B bedbank platform Hotelbeds would fetch at least £1 billion. The FTSE 100 company had already sold off hotel bookings website LateRooms, which was part of Hotelbeds, in October 2015.

Now it has been revealed that Europe’s largest travel group will sell Hotelbeds to private equity house Cinven and Canada Pension Plan Investment Board (CPPIB). The £930 million deal is expected to be completed by the end of September.

Hotelbeds provides transfers, excursions and tours, meetings and events, visa processing, outsourcing and cruise handling services, and currently employs around 6,150 people globally.

TUI Group representatives have said the profits from the sale will be invested back into the business, as it looks to maximise growth opportunities and strengthen its balance sheet. A statement read: “Due to their different business models and strategies, Hotelbeds had been operated independently from the group's tourism business in order to maximise the division's growth and value.”

If you’re looking to expand your existing business or move into the travel sector, see the Business Sale Report’s comprehensive list of travel businesses for sale.


Share this article



Latest Businesses for Sale

Accountancy Practice: 2 Partnered
Gwent, Wales, UK

This practice, which was established in 1955, is available for sale due to the impending retirement of the partners. Requirements: One of the partners will be available to assist in the transition period to ensure a smooth handover of clients. Offers...

Asking Price: Offers Invited
Turnover: £400,000

FREEHOLD


Accountancy: 4 Partner Practice
Cheshire, UK Wide

This practice, which was established in 2008, is available for sale due to the impending retirement of the partners. Offers invited.

Asking Price: Offers Invited
Turnover: £1,735,000

LEASEHOLD


Accountants: 2 Partner Firm
West Yorkshire, Yorkshire and the Humber, UK

This practice, which was established in 1985, is available for sale due to the impending retirement of the partners. Offers invited.

Asking Price: Offers Invited
Turnover: £360,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
17
 
May
 

Greater Manchester staffing firm acquires security services company | BUSINESS SALE

A security services business headquartered in Newton-le-Will...

 
16
 
May
 

Midlothian IT company enters administration with assets up for sale | ADMINISTRATION

An Edinburgh-based IT firm has collapsed into administration...

 
15
 
May
 

Logistics recruiters and distributors snaps up Birmingham-based counterpart | BUSINESS SALE

Challenge TRG Group, headquartered in Wigan, has successfull...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
17
 
Aug
 

TUI considers offloading non-core brands | DIVISION SALE

The holiday travel group TUI, and owner of Thomson and First...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources