French hotel booking platform CDS Groupe has acquired Germany-based Corporate Rates Club, marking a continuation of its international expansion.
CDS Groupe, which works on bookings for corporates and travel management companies, announced Monday its entry into the German market with its latest acquisition with the intent to take advantage of demand for corporate accommodation services.
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Ziad Minkara, CEO of CDS Groupe, said the company has long admired Corporate Rates Club’s technology and its talent.
“This acquisition reinforces and accelerates our strategy for international expansion, taking us to almost 300 employees in France, Italy, Poland, and now Germany and Croatia too,” Minkara said. “By increasing our strong customer and supplier relations even further, CDS Groupe now has an even better product offering in each region.”
With the acquisition, CDS Groupe represents nearly €800 million annually in hotel purchasing on behalf of its clients and is expanding its portfolio also in direct contracts.
The company also acquired online booking tool Rydoo Travel last year as part of its international growth strategy.
While Corporate Rates Club is to be absorbed by CDS Groupe, it will remain autonomous in terms of management and structure.
“We are thrilled to become a part of CDS Groupe’s success story in the [European Union] and beyond and excited by the benefits this brings both our clients and hotel suppliers in the medium to long term,” said Michael Krenz, CEO of Corporates Rates Club.