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	China now number five source market for Hotelbeds Group globally – up from 22nd place five years ago
	Plans to significantly increase hotels in China over next 12 months to respond to inbound demand
	Team of around 200 and growing already present in China
	MarketHub Asia event theme of Powered by data, driven by people focused on central role of data analytics in growing revenues


Palma de Mallorca, 2nd June 2017 – Hotelbeds Group, the leading bedbank worldwide and business-to-business provider of services to the travel industry, last week confirmed its increased commitment to the Chinese travel market during its MarketHub Asia event held in Bangkok, Thailand.

China is Hotelbeds Group´s fastest growing source market country and has now become the fifth biggest source market globally for the Group, up from 22nd place only five years ago. Additionally it is also the number one source market for the Group in the Asia Pacific region, having overtaken India two years ago.

In addition China is also a fast growing destination of choice for users of Hotelbeds Group´s two Bedbank platforms: Hotelbeds, which focuses on the online travel agency (OTA) and tour operator sectors, and Bedsonline, which works exclusively with travel agents. As a response to this increased demand the Group´s Bedbank division is looking to significantly increase the amount of hotels it has in China and is currently increasing contraction.

Currently there are around 200 employees across China working for Hotelbeds Group across its various brands, including both Hotelbeds and Bedsonline, but also its destination management brands such as Pacific World and Destination Services. This figure is expected to grow in line with Hotelbeds Group´s growth plans for the country.

Speaking with clients at the MarketHub Asia event in Bangkok, Global Sales Director at Hotelbeds Group Sam Turner commented:

“China is our fastest growing source market and a top priority for growth over the next few years – the potential is huge, by many measures the Chinese are already the number one traveller globally and yet only 6% of them hold a passport. 

“We have responded to this rapid growth in demand over the last five years by sourcing and contracting accommodation that matches the needs and desires of Chinese travellers, including gaining exclusive rates and the best pricing.

“We´ve been here for ten years now and immediately found out it was about much more than just obvious things like language or food options. There are whole range of factors you need to take into account such as visa issues, expectations of different room features, and now we are seeing a general shift away from group bookings towards individual trips. Even the payment solutions need to be localised, with many now expecting to use social media platforms such as WeChat for payment.&nbsp; 

“Additionally we have focused hard on offering technology solutions appropriate for a market that in many respects is one of the most advanced technologically around the world. For example our APItude Cloud solution is in part a response to the high level of mobile bookings we were seeing the from the region. 

“But it is no longer just outbound international bookings, we are seeing increasing demand internationally for China as a destination and therefore we are looking to significantly increase our hotel offering in the country over the next 12 months.” 

MarketHub events have a proven track record, with more than eight previous events in the Americas and four in Europe.

The MarketHub Asia event was attended by around 300 senior travel professionals – with around 100 delegates from China – from tour operator and OTA clients of Hotelbeds from across Asia Pacific. It took place in the AVANI Riverside Bangkok, a five star hotel located in Bangkok with 251 guest rooms and a fantastic river views.

The theme of the event was Powered by data, driven by people. Focusing on how travel companies can use data to drive growth in their businesses, it included insights into how the landscape of travel data will evolve over the coming years.

During the event there were numerous guest speaker presentations, including from Google, McKinsey and Accenture, as well as many speakers from both the travel provider partners and travel seller clients of Hotelbeds.

For more information about MarketHub Asia, please visit www.themarkethub.com

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About Hotelbeds 

Hotelbeds Group is the world’s number one bedbank and a business-to-business provider of services to the global travel industry.

Operating mainly under the Hotelbeds and Bedsonline brands, the company connects, 35,000 travel intermediaries across more than 120 source markets globally with travel providers in over 180 countries representing more than 120,000 hotels, 20,000 transfer routes and 12,000 activities.

In September 2016 the company became independent under the ownership of Cinven and Canada Pension Plan Investment Board (CPPIB). The company is headquartered in Palma, Spain and has 6,150 employees working across 150 offices globally. In the financial calendar year of 2014 / 15 Hotelbeds Group sold around 26 million room nights and achieved a Total Transaction Value (TTV) of €3.8 billion.

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Follow us on LinkedIn: linkedin.com/company/hotelbeds-group

Follow us on Twitter and Facebook: @HotelbedsGroup

Follow us on Youtube: Hotelbeds Group

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Hotelbeds Group Media contacts

Communications Department

Roman Townsend&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Head of Media Relations &amp; Corporate Affairs

media@hotelbeds.com

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Hotelbeds Group confirms increased commitment to China at MarketHub Asia event


	Following closure of customary regulatory and legal procedures, Tourico Holidays is now officially part of Hotelbeds Group.
	From today Tourico Holidays will become a business unit within Hotelbeds Group while the integration progresses.
	Strategic plan in development for combining both businesses in a phased approach.


Palma, June 8th , 2017 – Hotelbeds Group, a global bedbank and business-to-business provider of services to the travel industry, has confirmed that as of today – following the closure of the customary regulatory and legal procedures – Tourico Holidays has officially become part of Hotelbeds Group[1].

From today Tourico Holidays will become a business unit within Hotelbeds Group while the integration progresses.

A strategic plan is already in development to combine both businesses in stages. In due course both hotel and ancillaries partners and clients of each company will have access to the complete range of services and technology solutions currently available from both Hotelbeds Group and Tourico Holidays.

Tourico Holidays founder Uri Argov has made the decision to retire but will remain a shareholder of the combined company. Asi Ginio, who has been with the company since 1999 and is currently Chief Operating Officer (COO), will now step into the Chief Executive Officer (CEO) role while the company transitions to full integration.

Joan Vilà, Executive Chairman of Hotelbeds Group commented: “It gives me great pleasure to confirm that a bedbank with a well-deserved reputation for excellence and innovation such as Tourico Holidays is now officially part of Hotelbeds Group. 

“This deal expands our footprint in the important North American market and – along with our plans also for GTA to join us – forms part of our strategy to accelerate the growth of our business both organically and via M&amp;A activity. 

“Our medium-term objective is to combine our respective best in class technology and distribution expertise for the benefit of both our hotel partners and clients. We will do this in stages and over the coming months will provide partners with further updates on how and when this will happen.” 

Asi Ginio, Chief Executive Officer (CEO) of Tourico Holidays commented: “We are excited to now officially be part of Hotelbeds Group and are hugely proud to be participating in what amounts to a transformation for the B2B travel industry. 

“On behalf of all my colleagues I would like to thank Tourico Holidays’ founder Uri Argov for making this company the great success that it is today. We wish him all the best for the future.” 

Today´s news follows the announcement in April of plans that GTA, a leading global bedbank with a significant presence in the fast-growing and strategic Asia-Pacific market, will also join Hotelbeds Group. GTA joining Hotelbeds Group is independent from the Tourico Holidays deal and is subject to both its own regulatory approval process and integration timeline – for the time being GTA remains an independent company and is not part of Hotelbeds Group.&nbsp;

About Hotelbeds Group

Hotelbeds Group is the world’s number one bedbank and a business-to-business provider of services to the global travel industry.

Operating mainly under the Hotelbeds and Bedsonline brands, the company connects, 35,000 travel intermediaries across more than 120 source markets globally with travel providers in over 180 countries representing more than 120,000 hotels, 20,000 transfer routes and 14,000 activities.

In September 2016 the company became independent under the ownership of Cinven and Canada Pension Plan Investment Board (CPPIB). The company is headquartered in Palma, Spain and has 6,150 employees working across 150 offices globally. In the financial calendar year of 2014 / 15 Hotelbeds Group sold around 26 million room nights and achieved a Total Transaction Value (TTV) of €3.8 billion.

About Tourico Holidays 

Tourico Holidays is a leading global travel distribution company that contracts directly with travel providers, such as hotels, flights, cruise lines, attractions, car rentals, vacation homes and more. The company works on a high volume, wholesale model to broker this inventory to over 4,900 clients in 100 countries using proprietary technology.

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[1] This includes the top holding company of the Tourico Group and indirectly all its entities, including its holding subsidiaries, Tourico Holidays, Inc., Travel Holdings, Inc. and Tourico Holidays Spain, S.L., and the technology development Israeli subsidiary, T.G.S. Israel Development Ltd. The deal is legally structured via the merger of the top holding company of Tourico Group (´Travel Holdings Parent Corporation´) and a recently incorporated indirect subsidiary of Hotelbeds US Holdco, Inc., Hotelbeds Group Holding´s legal entity in the United States. The merged entity is 100% owned by Hotelbeds Group.&nbsp;

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