Tek Travels DMCC, a wholly owned subsidiary of travel distribution platform TBO Tek Limited, has acquired 100% of B2B accommodation wholesaler Bookabed. It previously owned a 51% stake. Terms of the deal were not released.
“It has been less than a year since Bookabed joined the TBO family,” says Neeraj Gera, president of TBO Holidays, adding that “the partnership allows us to bring added value to our customers and suppliers.”
Founded in 2004, Bookabed will remain under the leadership of CEO Karl Tyrrell.
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“Karl has done a stellar job leading the business with exceptional performance this year and will lead the growth charter for us in [the United Kingdom] and Ireland,” Gera says.
Since integrating with TBO.com, Tyrrell says, Bookabed has been able to deliver increased value to its customers. Bookabed will be fully integrated into the TBO platform, which lists more than 1 million properties worldwide, according to TBO.
“We will continue to service our customers and will advise our customers on how the new brand will roll out over the coming months,” Tyrrell says.