French hotel booking platform CDS Groupe is expanding into Germany with the acquisition of Stralsund-based corporate accommodations provider Corporate Rates Club, the company announced.
CRC, which offers accommodations through its own hotel booking portal and also via integrations with online booking tools, will remain an autonomous unit within CDS Groupe, with “no changes in terms of management or structure,” according to the group. Financial terms of the acquisition were not disclosed.
The acquisition builds on CDS Groupe’s international expansion plans, following last year’s acquisition of expense management provider Rydoo’s travel platform. The CRC acquisition brings the group to a total of €800 million in annual hotel spending by corporate and travel management company clients, according to the 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,” CDS Groupe CEO Ziad Minkara said in a statement. “By increasing our strong customer and supplier relations even further, CDS Groupe now has an even better product offering in each region.”
