CDS Group, which works on reservations for corporates and travel management companies, announced on Monday its entry into the German market with its latest acquisition in a bid 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 talent.
“This acquisition strengthens and accelerates our international expansion strategy, bringing us to almost 300 employees in France, Italy, Poland and now Germany and Croatia as well,” Minkara said. “By further strengthening our strong relationships with our customers and suppliers, CDS Groupe now has an even better product offering in each region. »
With this acquisition, CDS Groupe represents nearly 800 million euros each year in hotel purchases on behalf of its clients and is also expanding its portfolio through direct contracts.
The company also acquired an online reservation tool Rydoo Travel last year as part of its international growth strategy.
Even if Corporate Rates Club will be absorbed by CDS Groupe, it will remain autonomous in terms of management and structure.
“We are delighted to be part of CDS Groupe’s success story in (the European Union) and beyond and excited about the benefits this brings to our customers and hotel suppliers in the medium to long term,” said Michael Krenz, CEO of Corporate Rates. Club.