Hotelbeds announces strong 2019 year-end performance

Hotelbeds

Hotelbeds, the world´s leading bedbank, has posted an operating performance of $256.5 for the end of the financial year (September 30, 2019).

In addition to this, the company also saw a strong cash position of $548.2 million.

The newly consolidated company is now well positioned as the leader in its segment to provide its 180,000 hotel partners globally with incremental, high-value bookings via the company’s portfolio of over 60,000 travel trade buyers, including retail travel agents, tour operators, airlines and points redemption schemes.

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Post year-end and following the completed integration, Hotelbeds is focused on becoming the most efficient bedbank player in the industry. To achieve this, the company has identified significant new opportunities to optimise its footprint, operations and commercial model, by investing in automation and cutting-edge technology to improve both the customer experience for its partners, as well as better utilise the scale of its recently combined operations.

Hotelbeds’ target is to lower the ‘cost-per-room-night’ from its current $6.94 level to $5.39 by year-end 2021.

Simultaneously, Hotelbeds has announced that it is investing in the opening of a new technology hub in Valencia, Spain, that will drive the future development of the automated platforms, processes and technology that aims to make working with Hotelbeds more seamless and cost efficient for partners.

Executive chairman, Hotelbeds, Joan Vilà stated: “These results represent a remarkable achievement in what has been an intense year for our teams worldwide as they have worked incredibly hard, in a complex context, to integrate the top three leading players in our segment. I thank all our employees for the level of commitment and initiative they have shown during this period.

“As a fully integrated company and the biggest independent bedbank worldwide, coupled with the financial strength and resilience of the business, we are now well positioned, with a clear strategy and focus, to deliver on our ambitious growth plans,” he concluded.