Freshfields has advised leading European private equity firm, Cinven, and global investment management organisation, Canada Pension Plan Investment Board, on their agreement to acquire Hotelbeds Group from Tui AG

Freshfields Bruckhaus Deringer LLP (Freshfields) has advised leading European private equity firm, Cinven, and global investment management organisation, Canada Pension Plan Investment Board (CPPIB), on their agreement to acquire Hotelbeds Group (Hotelbeds) from Tui AG. The sale has been agreed for an enterprise value of EUR 1.165 billion.

Hotelbeds is the largest independent business-to-business (‘B2B’) ‘bedbank’ globally, offering hotel rooms to the travel industry from its inventory of 75,000 hotels in over 180 countries to its customer base across more than 120 source markets. In addition to hotel accommodation, Hotelbeds provides transfers, excursions and tours, meetings and events, visa processing outsourcing, and cruise handling services. Hotelbeds’ main clients consist of tour operators, travel agencies, corporate clients and consumers. 

The Freshfields team was led by partners David Higgins, Victoria Sigeti, Wessel Heukamp and José Armando Albarrán on the corporate side of the transaction and by partner Chris Davis on the finance side.