France-based hotel booking platform CDS Groupe has entered the German market with the acquisition of Corporate Rates Club (CRC), as reported by TravelDailyNews.com.
With this move, CDS Groupe aims to capitalise on the growing demand for premium corporate lodging services in Germany.
CRC is a hotel booking portal that provides customers access to a range of accommodations across all categories.
CDS Groupe CEO Ziad Minkara 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 and 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!”
CRC CEO Michael Krenz said: “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.”
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Following this deal, CDS Groupe will now represent roughly €800m ($859.19m) annually in hotel purchasing on behalf of its corporate and travel management company (TMC) clients, the news website also reported.
Additionally, this deal will extend the company’s collection of directly contracted, exclusive hotel options.
This latest deal follows the acquisition of Rydoo Travel, an online booking tool, by CDS Groupe in 2022.
Stralsund, Germany-based CRC has over 25 years of experience and will become a part of CDS Groupe while maintaining its autonomy in terms of management and structure.