Hotelbeds and Bedsonline owner HBX Group today confirmed plans to raise up to €725 million with a float on Spanish stock exchanges.
The company said it was considering an initial public offering (IPO) to accelerate its growth strategy and strengthen its financial position.
The Majorca-based B2B travel tech firm intends to apply for its shares to be admitted to trading on the Madrid, Barcelona, Bilbao and Valencia stock exchanges.
The group aims to strengthen its network in the accommodation product line by adding new suppliers and distribution partners, as well as focusing on gaining share in “attractive” key markets.
It also plans to expand its offering of “highly complementary and synergistic” travel products across its mobility and experiences, fintech and insurance, and hotel tech product lines by cross-selling these to existing partners.
“Growing demand for experiential travel, particularly from Gen Z, which already accounts for 30% of traveller population according to industry sources, will help the rapid expansion of these product lines,” the company said.
“The group expects to continue innovating through partnerships to integrate new products and capture more of the traveller’s journey.”
Growth in profits will be aided by using data analytics and gen-AI enabled solutions to allow its pricing strategy to be automatically calibrated and tailored in real time, optimising pricing decisions, according to the company,
“HBX Group expects this will enable it to improve its margins, grow TTV [total transaction value], and capture additional demand,” a statement said.
“It would also enable distribution partners to monitor and respond faster to competitors’ pricing, leading to improved customer satisfaction.
“The group will also continue to explore potential opportunities in complementary, under-penetrated, high-growth geographies, with regional B2B distribution leaders or best-in-class tech players with differentiated value creation potential.”
The fund-raising plan was outlined as the group reported a 12% rise in total transaction value, generated €693 million in revenues in 2024 and an operating profit of €260 million, up from €235 million the previous year.
Chief executive Nicolas Huss said: “Today marks a significant milestone for HBX Group as we embark on our journey to become a publicly traded company.
“The competitive advantages derived from our 23-year track record and the excellence of our technology, data, people and products have enabled us to become a leading all-in-one marketplace for both travel suppliers and customer-facing travel distributors worldwide in a highly fragmented sector.
“This IPO will help accelerate our growth strategy, strengthen our financial position, and help us continue to innovate in the travel tech industry by connecting distributors and suppliers of hotel, transport and experience providers worldwide, thereby delivering value for all our stakeholders.”