Former ‘TUI Travel Accommodation & Destinations’ Renamed ‘Hotelbeds Group’

Following the merger of TUI Travel PLC and TUI AG, TUI Travel Accommodation & Destinations announced earlier this month that it will be called Hotelbeds Group. This group includes Hotelbeds, a leading bedbank worldwide together with a range of global businesses with market leading positions in each of their segments.

According to an announcement by TUI, the change recognizes the fact that the Hotelbeds brand represents a significant part of the business.

Hotelbeds Group presented its full year results recently, announcing a growth in sales by 10 percent in 2014 (year ending 30 September) and €4,048 million in Total Transaction Value (TTV). Its EBITDA increased by 13 percent to €132 million, with EBITA reaching €100.6 million. “The company has once again significantly outperformed the global tourism industry,” TUI’s announcement said.

Among Hotelbeds Group’s other brands are Destination Services, Activities, Laterooms.com, Intercruises and Roiback.

Following the merger of TUI Travel PLC and TUI AG, the new organization for TUI Group comprises mainstream and non-mainstream. Hotelbeds Group will be part of non-mainstream and drive a focused strategy to further accelerate growth