Fusion & Acquisition

🏨 Leonardo Hotels Central Europe, through its strategic partnership Fattal III formed in January 2024, invested €419 million to acquire 23 hotels across Europe for a total of €604 million. The brand's lifestyle label, NYX Hotels, targets a youthful demographic and plans a new Rome property with 324 rooms for summer 2025. Leonardo Limited Edition introduces luxury hotels like The Dilly in London and The Grand Brighton. The chain aims for 10% annual growth focusing on French, Scandinavian, Croatian, and Serbian markets, including expansion and renovation like at Leonardo Royal Warsaw.

💸 Juno, an American startup founded in 2024 by Devon Tivona and Sam Felsenthal, has raised €1.8 million ($2 million) in a pre-seed funding round. The funding round was led by Bungalow Capital and Steve Singh, founder of Concur and director of Madrona Venture Capital. Juno's platform aims to simplify end-to-end business travel management for "guests," which can make up to 20% of a company's travel, including interns, job candidates, contractors, and speakers. The company's first contract is with Altour, integrating Juno's solution to enhance business travel booking and expense management, promising a competitive edge for businesses by allowing travelers to focus on their trip's purpose without logistical complexities.

🏃 Limitless Travel secured €7.7 million in a Series A funding round led by Beringea, with Active Partners, Social Impact, Adjuvo, David Bernstein, Miroma Ventures, and existing investors including Nigel Wray. Founded in 2015 by Angus Drummond, who has muscular dystrophy, the company aims to make travel more accessible for the disabled, addressing a market of 11 million people with mobility issues in the UK alone, part of an industry worth $100 billion. Limitless Travel saw a 350% increase in annual revenue since 2022 and employs 80 staff. The investment will go towards product range expansion, technology development, and international growth.

🏨 Leonardo Hotels Central Europe has secured a €419 million investment through Fattal Partnership III in January 2024, acquiring 23 hotels across the Netherlands, France, Spain, Italy, Germany, Ireland, and the UK, totaling approximately €604 million. Notably, 12 hotels in the Netherlands were bought for around €370 million in July 2024. The expansion includes the exclusive Leonardo Limited Edition hotels, and the lifestyle brand NYX Hotels is being developed, targeting young, design-conscious travelers.

🏨 Groupe Al-Bahar, the majority shareholder of YOTEL, increased its stake in the company by acquiring an additional 30% from Starwood Capital. This transaction brings Al-Bahar's ownership in YOTEL to over 95%. Looking ahead, YOTEL aims to double its global room count within the next five years, building on 15 years of rapid growth and a portfolio of properties in prime locations.

🚗 90% of French consumers use Google My Business (now Google Business Profile) for company insights. 92% consult customer reviews before purchase, affecting automobile industry customer decisions. Local searches like "concession automobile + city" with a search volume over 40 are critical for dealerships. A Google My Business listing aids in local search visibility. The Google Local Pack showcases the top 3 businesses; Google Maps display prioritizes those with the best reviews and significant volume. Guest Suite supports 10,000+ businesses, including Distinxion and Europcar, in managing customer feedback across multiple platforms like Google, Trustpilot, Pages Jaunes, and their own websites.

🏩 Sandals Resorts International, a Caribbean icon founded in 1981, is considering a sale with the aid of investment bankers, potentially Deutsche Bank, for $6-7 billion. The Jamaican all-inclusive couples' resort brand, after founder Butch Stewart's death in 2021, aims to attract offers from major hotel chains and private investment funds, amidst a rebranding campaign "Made of Caribbean" to expand beyond weddings and honeymoons. No final decision on the sale has been made yet.

💰 Parisian restaurateurs, bistros, cafés, and local businesses experienced a significant downturn during the Paris Olympic Games. A compensation commission for businesses affected by the Olympics was established in June 2024 by Prime Minister Gabriel Attal, but has been inactive. The public sector, including the Ministry of Economy, is urged to be accountable. It's proposed that €26.8 million in excess budget from the Paris 2024 Organizing Committee be partially allocated to the impacted businesses for indemnification.

📍 SITA acquires CCM, an airport and hotel interior furniture and IT systems designer, to expand its capabilities. CCM has outfitted over 300 airports worldwide, including Paris-CDG's Terminal 3 and Beijing Airport. SITA's Air Transport IT Insights 2024 report indicates 63% of airports prioritize self-service, biometrics, and mobile apps. The acquisition terms were undisclosed. Monica Oberti is appointed interim CEO of CCM. SITA aims to create smarter, more adaptable, and beneficial airport terminal environments.

💰 Sabre Corp, a travel technology solutions provider, is considering selling its SynXis software platform, used by over 40% of global hotels, in a deal that could exceed $1 billion. This sale aims to reduce Sabre's net debt, currently at $4.5 billion. The company's stock (SABR.O) rose 3.4% after-hours at the announcement. SynXis generates $300 million in annual revenue with clients like Four Seasons and Mandarin Oriental. Evercore is advising on the potential sale, attracting private equity funds and rival software publishers. No deal is guaranteed yet.