The hotel industry's brand-building bonanza continued Thursday with Hyatt adding its latest offering: a short-term vacation rental platform known as Homes & Hideaways by World of Hyatt.
Corporate Booking Platform CDS Groupe Acquires Germany’s Corporate Rates Club
13.09.2023 - 15:15 / skift.com / Justin Dawes
CDS Groupe, a hotel booking platform for business travel, is expanding into the German market through an acquisition.
The France-based company said this week that it has acquired Corporate Rates Club, the business travel segment of TourisMarketing Service GmbH.
Terms of the deal were not disclosed.
Corporate Rates Club will continue to operate independently with its full staff, CDS Groupe said. The CRC tool is available through a customized online booking portal or through integrating its hotel offerings into a third-party online booking engine.
The deal is part of what CDS Groupe says is a plan for international growth.
The company in 2022 acquired Rydoo Travel, an online booking tool, from Marlin Equity.
The combined company said it completes about €800 million annually in hotel bookings on behalf of its clients, which include corporations and business travel agents. The acquisitions have also allowed the buyer to expand its portfolio of contracts with hotels.
The company now has 300 employees in France, Italy, Poland, Germany and Croatia.
CDS Groupe was founded in 2001 and is managed by founding shareholder Ziad Minkara.
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