The wholesale accommodation distribution platform Hotelbeds is currently preparing to go public, through a public offering (IPO), thanks to which it could reach a capitalization of 5 billion euros.
Morgan Stanley and Evercore in action
According to Expansión, the Mallorca-based company’s owners, Cinven and CPPIB, have hired Morgan Stanley and Evercore as advisors to help them determine the IPO’s chances of success in the Spanish market. No further details of this stock transaction have been disclosed at this stage.
Three investment funds that listen
Indeed, at the end of March, we learned that 3 private investment funds, Cinven, EQT and Canada Pension Plan Investment, were listening to offers for the largest bedbank in the world.
The good dynamics of Hotelbeds
It must be said that since the start of 2023, Hotelbeds’ B2B activity has experienced a “significant recovery” in demand. So much so that between January 9 and 22, the brand experienced the best fortnight of reservations by turnover in its history, with one reservation per second during peak periods.
Hotelbeds receives 4 billion search requests per day, compared to 9 billion for Google.
Hotelbeds is a Palma-based travel technology company, founded in 2001 as part of Viajes Barceló, which has grown into one of the largest bedbanks in the world, offering 320,000 travel products in over 195 countries, including 300,000 hotels.