CWT acquired by Amex GBT for $570 million | Changing the business travel market

Amex GBT, the world’s largest travel management company (TMC), announced that it has entered into an agreement to acquire rival CWT for $570 million, a deal believed to herald more mergers and acquisitions in the sector. The acquisition, which is expected to close in the second half of the year and is subject to regulatory […]

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New important deals in the European hotel industry

Deals continue in the European hotel market, albeit at a slower pace, according to data from HVS’ Hotel Transactions in Europe Newsletter for the week ending March 15. Among the deals that appear to have been floated or completed this week is a £1.9 billion takeover of London’s LXi REIT, including its 144 UK hotels, […]

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GlobalData: Travel & tourism industry sees 1,080 deals in 2021

A total of 1,080* deals were announced in the global travel and tourism sector during 2021, which is an improvement of 1.3% over the 1,066 deals announced during 2020, according to GlobalData, a leading data and analytics company. Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Deal activity in the travel and tourism sector consistently improved […]

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Deals and new hotels in the Greek hospitality sector

According to the GBR Hospitality Newsletter, in February it was announced that Zeus International has reached a lease agreement of the Poseidon Resort in Loutraki, a 5 star unit of the Argyrou family located at a one hour drive from Athens. The indebted hotel will be rebranded as the 108-room Wyndham Loutraki Poseidon hotel and […]

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German tour operators sign up international partners

Tour operators in Germany have agreed various sales and marketing partnerships with destinations and airlines. FTI has teamed up with Dutch low-cost airline Transavia in a sales and marketing deal for its new low-cost flights from Munich which start at the end of March. FTI will sell seats on Transavia flights to city and beach […]

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