Tourico Holidays is to come under the umbrella of Hotelbeds Group.
The bedbank has acquired Tourico for an undisclosed sum, and said Tourico will continue to operate as an independent business.
Tourico’s 4,900 clients in 100 countries will now link in with Hotelbeds Group’s Hotelbeds and Bedsonline brands. The group says it 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.
Joan Vilà, executive chairman of Hotelbeds Group, said: “Tourico Holidays has a well-deserved reputation for excellence and innovation that I have respected for many years. I look forward to working with its experienced leadership team.
“The proposed deal will enable us to enhance our footprint, especially in Tourico Holidays’ home market of North America whilst they will benefit from belonging to Hotelbeds Group’s global network. Together we will combine our best in class technology and distribution expertise for the benefit of both our hotel partners and clients.”
Tourico Holidays’ chief executive Uri Argov added: “At a cultural level, this deal is strong because our two organizations are both entrepreneurial, dynamic and high energy – and just like Hotelbeds Group, we´re passionate about what we do and focus hard on execution.”
A long term strategy is being developed to find the most appropriate way to combine the businesses.