France’s CDS Groupe continues international expansion with acquisition of Germany’s Corporate Rates Club (CRC)
PARIS – French-headquarted CDS Groupe, a hotel booking platform for corporates and TMCs, has today announced that it has entered into the German market with the acquisition of Corporate Rates Club (CRC) to take advantage of the market demand for premium corporate accommodation services.
As a result of this CDS Groupe will now represent around €800m per year in hotel purchasing on behalf of its corporate and TMC customers whilst also expanding its portfolio of directly contracted, exclusive hotel supply.
This news follows the acquisition of Rydoo Travel, an online booking tool, in 2022 as part of the group’s strategy for international growth.
The deal further strengthens CDS Groupe’s position as the leading hotel platform for business travel in Europe, with a team of almost 300 staff in France, Italy, Poland, and now Germany & Croatia too.
As part of the deal Stralsund-based CRC – based in Germany and with more than 25 years of experience – will join CDS Groupe but will remain autonomous, with no changes in terms of management or structure.
Ziad Minkara, CEO of CDS Groupe said: “We have long been admirers of CRC’s talent and technology, so we are very excited to integrate the entire team into our group. This acquisition reinforces and accelerates our strategy for international expansion, taking us to almost 300 employees in France, Italy, Poland, and now Germany & Croatia too. By increasing our strong customer and supplier relations even further, CDS Groupe now has an even better product offering in each region. Watch this space for more news!”.
Michael Krenz, CEO of Corporate Rates Club (CRC) added: “We are thrilled to become a part of CDS Groupe’s success story in the EU and beyond and excited by the benefits this brings both our clients and hotel suppliers in the medium to long-term”.
The article France’s CDS Groupe continues international expansion with acquisition of Germany’s Corporate Rates Club (CRC) first appeared in TravelDailyNews International.
