JacTravel, the UK-based B2B hotel accommodation wholesaler and provider of inbound travel services, has acquired TotalStay Group, an accommodation provider to wholesale, retail and consumer markets.
The enlarged group will benefit from greater scale in the accommodation market, achieving an annual combined turnover significantly in excess of £360 million and direct contractual relationships with over 14,000 independent and chain hotel partners in 800 cities globally. Greater scale is expected to accelerate growth and deliver increased efficiency to the benefit of customers and suppliers. It should also create new opportunities for the staff of both companies, which have been growing at around 20% per annum in recent years.
The transaction was supported by Vitruvian Partners, the existing institutional shareholder of JacTravel. The founder and management team of TotalStay Group will retain a significant minority interest in the enlarged group.
Terry Williamson, Chief Executive, JacTravel, said: “TotalStay is an exceptional business that we have long known and respected, whose growth since inception is testament to the talent and hard work of its management team and to the underlying attractions of the wholesale accommodation market globally. Bringing TotalStay together with JacTravel will enable us to provide customers and suppliers with a broader, more integrated platform, driving growth and efficiency. We look forward to working with Peter and his team to deliver the potential that we clearly see for the enlarged group.”
Peter Clements, Chief Executive, TotalStay Group, added: “JacTravel has been a long-standing partner of our business, and we share a core set of values right from the start of this exciting new venture. The opportunity to join forces and move forward together is a great proposition for our customers and suppliers, but also for our people. I am really looking forward to it.”