B2B hospitality marketplace MG Group has been acquired by Creador, a Southeast Asia-based private equity firm for an undisclosed amount.
The acquisition sets up Indonesia-based MG Group, which claims to have a network of 350,000 accommodation suppliers and 8,000 buyers, for global expansion, a statement said.
The company said it offers low-cost connectivity through its B2B hotel distribution technology MG Jarvis and has been tapping into the travel boom in Southeast Asia. It achieved a 50% growth rate year-over-year in 2024, the statement said.
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"Asia is not just the largest travel market; it’s the region defining the future of travel," said Brahmal Vasudevan, founder and CEO of Creador. "MG Group’s innovative platform and lean business model make it uniquely equipped to lead the next wave of growth in global B2B hospitality. With this investment, we are building a global platform from the world’s fastest-growing region."
“This is a defining moment for MG Group,” said Brett Henry, president director and CEO of MG Group. “Partnering with Creador provides us with the resources and expertise to expand our footprint, strengthen our platform, and deliver even greater value to our partners. Together, we will shape the future of B2B hospitality in Southeast Asia and beyond. I would like to thank Northstar for their steadfast support during the COVID pandemic years and for enabling MG Group’s digital transformation, which laid the foundation for our current success.”
Wong-Chee Yann, CIO of Northstar Group, a private equity fund that invested in MG Group in 2016, praised Henry and MG Group for navigating the pandemic and emerging strong by digitalizing operations.