Jactravel acquires operator of accommodation totalstay group
The British wholesaler of accommodation Hotel B2B and JacTravel tourist service provider has acquired TotalStay Group, a provider of housing for sale to the wholesale, retail and directly to the consumer.
The group that will emerge from this union of benefit from a large-scale accommodation market, reaching an annual combined income of 360 million pounds (490 million euros). Will also have direct contractual relationships with more than 14,000 chains and independent hotels in 800 cities around the world.
Big synergies will allow to accelerate growth and increase efficiency, which shall inure to the benefit of customers and suppliers, both companies say. They added that it will also create new opportunities for the staff of both companies, that has been growing about 20 percent annually in recently.
The transaction has received the support of Vitruvian Partners, controlling shareholder of JacTravel. As reported by News HOSTELTUR tourism in June 2014 a venture capital fund purchased 100 M JacTravel €. The founder and the management team of TotalStay Group will retain a minority stake in the enlarged group.
CEO of JacTravel, Terry Williamson, has commented that “TotalStay is an exceptional company that we have extensive knowledge and respect, whose growth since its inception is testimony to the talent and hard work of his direct team and its deep attraction for the wholesale market of accommodation around the world. Bring TotalStay next JacTravel will allow us to attend customers and suppliers with a broader and more integrated platform, driving the growth and efficiency. We look forward to working with Peter and his team for the potential that we see clearly to the enlarged group”.
The CEO of TotalStay Group, Peter Clements, has said that “JacTravel has been for many years supplier of our company, and we share a set of core values for the start of this exciting new venture. The opportunity to join forces and make progress together is a great option for our customers and suppliers, but also for our people. Really hope it eagerly”.
Meanwhile the Vitruvian, Ben Johnson, partner
has comentaod that “the vision that Terry and Peter have been articulated for the new group JacTravel is a convincing proposition with which we hope to create significant value for our customers, suppliers and other stakeholders (stakeholders). We are pleased to support the continued success of JacTravel and welcome to the shareholders and employees of TotalStay team”.
TotalStay Group shareholders were advised in the transaction by New World Corporate Finance and Fladgates LLP and Harris & Trotter. While JacTravel and Vitruvian Partners were advised by Livingstone Partners, BDO, Reed Smith LLP, CG Consultancy, SJackson Consultancy, and Elman Wall Bennett.