Tek Travels DMCC acquires 51 per cent stake in BookaBed AG

Tek Travels DMCC, a wholly-owned subsidiary of TBO Tek Limited has acquired 51 per cent shareholding of BookaBed AG. TBO is one of the leading global travel distribution platforms connecting over 100,000 travel buyers across more than 110 countries with millions of travel suppliers, as of October 31, 2021.

Investment in BookaBed will enable TBO to scale up its business’s services and offerings. BookaBed AG, based in Switzerland, is also a B2B accommodation provider to the Irish and UK travel industries. BookaBed intends to increase its market share in Ireland and the UK by leveraging TBO’s global API business, and TBO Academy that trains and educates travel agents and travel trade partners.

Gaurav Bhatnagar, Co-Founder and Joint Managing Director of TBO, commented on the news and said, “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.”