Tourico Holidays has officially become part of Hotelbeds Group, a global bedbank and business-to-business provider of services to the travel industry.
According to a press statement, 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, the statement explained.
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, will now step into the ehief executive officer role while the company transitions to full integration.
The 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.