TBO’s Tek Travels acquires 100% stake in BookaBed
TBO Tek Limited (TBO)’s wholly owned subsidiary, Tek Travels DMCC, has acquired the remaining stake in BookaBed AG. With this acquisition, TBO intends to further deepen its European footprint into Ireland and the UK.
BookABed will continue to function under the leadership of Karl Tyrrell. Over the course of a year, the breadth and depth of BookaBed will be fully integrated into the TBO platform which lists over 1 million properties worldwide.
Neeraj Gera, President, TBO Holidays, said, “It has been less than a year since Bookabed joined the TBO family. The last few months have been remarkable together and we are thrilled to have reached this milestone. We continue to expand our global footprint by staying true to our commitment to simplifying global travel. The synergies between both organisations have been clear from the outset and the partnership allows us to bring added value to our travel buyers and travel suppliers. Karl has done a stellar job leading the business with exceptional performance this year and will lead the growth charter for us in UK and & Ireland.”
Commenting on the announcement Karl Tyrrell, CEO, BookaBed, added, “We are excited about this acquisition! We’ve had deep relationships in the industry here in Ireland. Since integrating with TBO.com, in the last few months, we’ve had a greater ability to engage the Irish and UK markets stronger and deliver increased value to our customers. We will continue to service our customers and will advise our customers on how the new brand will roll out over the coming months.”
This development reflects the aggressive growth plans the company has set globally as it continues to step up investments by constantly looking at similar partnerships to expand, hire and improving customer experience toward its vision of simplifying and empowering the travel ecosystem.