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Hotelbeds begins integrating Tourico

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Now the deal is sealed, both businesses turn to integration
Tourico Holidays officially became part of Hotelbeds Group last week and will become a business unit within the global bedbank while the integration progresses, following the closure of the customary regulatory and legal procedures since the merger was announced earlier this year.
A strategic plan is already in development to combine both businesses in stages. Partners and clients of each company will eventually have access to the complete range of services and technology solutions currently available from both Hotelbeds and Tourico.
“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&A activity,” commented Joan Vilà, executive chairman of Hotelbeds.
“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.”
Meanwhile, Tourico founder Uri Argov has decided to retire but will remain a shareholder of the combined company. Asi Ginio, who has been with the company since 1999 and is currently COO, will take on the CEO role while the company transitions to full integration.
TTG Asia

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