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Successful acquisition consolidation and strong 2019 year-end results for Hotelbeds

Successful acquisition consolidation and strong 2019 year-end results for Hotelbeds
Dec.18, 2019
by Hotelbeds

Just in case you missed it, in November we provided the market with an update on the close our financial year (which ended on 30 September).

For the 2018 / 19 financial year we demonstrated a strong financial performance with an EBITDA of €233.5 million, which was an increase on the previous year (see table below):

In addition, as of the close of the financial year, the company had a strong cash position of €498 million.

Our newly consolidated company is now well positioned, as the leader in our segment, to provide you – our 180,000 hotel partners globally – with incremental, high-value bookings via our portfolio of over 60,000 travel trade buyers, including retail travel agents, tour operators, airlines and points redemption schemes.

Post year-end and following the completed integration, Hotelbeds is focused on becoming the most efficient bedbank player in the industry. To achieve this, the company has identified significant new opportunities to optimise its footprint, operations and commercial model, by investing in automation and cutting-edge technology to improve both the customer experience for partners, as well as to better utilise the scale of our recently combined operations.

At the same time, we announced that we are investing in the opening of a new technology hub in Valencia, Spain that will drive the future development of the automated platforms, processes and technology that aims to make working with Hotelbeds more seamless and cost efficient for you.

Speaking about the results our Executive Chairman, Joan Vilà, said: “These results represent a remarkable achievement in what has been an intense year for our teams worldwide as they have worked incredibly hard, in a complex context, to integrate the top three leading players in our segment. I thank all our employees for the level of commitment and initiative they have shown during this period.

“Post-integration, we can focus once again, without distraction, on managing the day-to-day operations of our business to deliver increased value for our travel trade partners. This is also the perfect moment to optimise our operations and fully utilise our strong position to deliver the level of efficiencies our scale and combined capabilities enables.

“As a fully integrated company and the biggest independent bedbank worldwide, coupled with the financial strength and resilience of the business, we are now well positioned, with a clear strategy and focus, to deliver on our ambitious growth plans.”

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