Dubai-based Tek Travels DMCC acquires 51% stake in Swiss BookaBed

By Salma C, Intern Reporter
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Book a Bed Logo
Representational Image | Image Courtesy: BookaBed

Dubai-based Tek Travels DMCC, a wholly-owned subsidiary of TBO Tek, a leading global travel distribution platform, has acquired a 51 percent stake in BookaBed AG, one of Europe’s Leading B2B accommodations wholesalers.

As of 2021, TBO connected more than 1,00,000 travel buyers in more than 110 countries with millions of travel suppliers.

Investment in BookaBed will enable TBO to expand its business services and offers. Headquartered in Switzerland, BookaBed AG is a B2B accommodation provider to the Irish and UK travel industries. BookaBed aims to increase its market share in Ireland and the UK by taking advantage of TBO’s global API business, and TBO Academy which trains and educates travel agents and travel trade partners.

Gaurav Bhatnagar Image
Gaurav Bhatnagar
Co-Founder & Joint MD

“We are excited to welcome everyone at BookaBed to the TBO family. BookaBed allows TBO’s entry into the Irish market and strengthens our UK presence. Both TBO and BookaBed have a significant opportunity to leverage each other’s strengths and further expand our presence in current and future markets. What really makes this truly promising is our shared core values. There are synergies in our business models and vision, but the core values we share are vital when building for the long term. Under Karl’s continued leadership, we look forward to strengthening BookaBed’s business.”

Meanwhile, Mr. Karl Tyrrell, CEO of BookaBed, added: “We are very excited to partner with TBO and delighted to join the TBO family. As the world returns to travel, BookaBed looks forward to leveraging TBO’s technology and content. This combined with BookaBed’s deep distribution reach and market position in Ireland and the UK creates an even more compelling value for BookaBed customer partners.”

“We will continue to service our customers as we currently do and promote and operate the BookaBed brand that is so well known in these markets. There will be no change to our management, sales, or support teams.” Mr. Tyrrell added.

TBO is an India-based leading global technology delivery platform that relies on technology to facilitate the complex buying and selling of travel partners around the world. It seamlessly connects the segregated base of travel buyers and suppliers.

Launched as a single product air ticketing company, TBO is currently a leading global travel distribution platform across the US, UK & Europe, Africa, the Middle East, India, and the Asia Pacific.

TBO’s product line includes air, hotels, rail and holiday packages, car rentals, transfers, sights, cruises and cargo.

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