Fusion & Acquisition

💰 Eurazeo entered exclusive negotiations for a majority stake acquisition in Mapal from PSG Equity, with Mapal’s management team also investing. PSG Equity will retain a minority stake. The deal's completion is pending customary formalities and regulatory approvals. Mapal, headquartered in Madrid, serves over 2,000 clients in 40+ countries with AI-powered SaaS for restaurant and hospitality back-office processes. Financial details will be disclosed post-transaction. PSG Equity first invested in Mapal in September 2019, prompting growth acceleration.

📊 In the airline industry, only 25 out of 340 IATA-member airlines (7%) have invested in startups. A vast majority, 315 airlines (93%), have not engaged in startup investment to support innovation. Notably, KLM, through SHIFT Invest III in 2024, completed 9 deals with startups, while ANA executed 6 investments via its Future Frontier Fund established that same year. Climate technology leads as the top investment focus for airlines in 2024, followed by artificial intelligence.

💸 Flywire acquires Sertifi for $330 million, adding a new vertical in the travel sector focused on accommodation. This deal gives Flywire access to Sertifi's 20,000-property portfolio, including Marriott, Hilton, Hyatt, and luxury independents. Sertifi integrates with Oracle OPERA, Amadeus Delphi, and Salesforce, enhancing booking processes for hotel groups and events. Flywire anticipates an additional revenue of $35-40 million from Sertifi in 2025, though net margins are expected to be lower due to planned investments.

✈ Only 25 out of 340 IATA member airlines have invested in startups throughout their existence, which is 7%. In 2024, 55% of airline investments targeted startups focusing on aviation sustainability, a 5% increase from the previous year. Investments in AI startups by airlines rose by 4% in 2024, capturing 22% of the total. Notably, United Airlines with Koloma, Alaska Airlines with Twelve, and Japan Airlines with Heirloom were involved in 9 of the top 10 deals. Companies like KLM through SHIFT Invest III, ANA with Future Frontier Fund, and Jetblue through JetBlue Ventures are among the top investors, with Japan Airlines making a notable entrance with 6 deals in 2024.

🏛 Hyatt Centric, known for culturally immersive hotels, celebrates growth with new openings in Cairo, Shanghai, San José, and Santo Domingo by 2024. The brand aims to launch over 35 new hotels globally by the end of 2028, a 50% portfolio increase, targeting over 100 locations worldwide by 2029. Asia-Pacific will see a 75% brand footprint increase, with expansions also across the Americas, Europe, and the Middle East. Hyatt's Emily Wright highlights the brand's fit within their Classics portfolio.

🏨🏨 RoomPriceGenie, a Swiss RMS leader for independent hotels and groups, secured a $75 million investment from Five Elms Capital. The funding will boost international expansion and platform enhancements. Chas Scarantino was appointed as the new CEO in preparation for growth. RoomPriceGenie, founded in 2017, aims to make automated pricing more accessible. Ari Andricopoulos, co-founder and current CEO, will transition to CSO, focusing on product innovation and strategic partnerships. Only 10% of hoteliers use a dedicated RMS, indicating significant market potential.

📈 Jean-Jacques Morin of Accor has been assigned to sell Accor's 31% stake in AccorInvest within 18 months. Sébastien Bazin confirmed the decision during the financial results presentation, aiming to divest from the real estate company initially created to manage assets from Accor's former model. AccorInvest, now revived post-COVID crisis under Gilles Clavié's management, boasts a significant portfolio with approximately 700 hotels. The sale process, though complex, is expected to attract considerable interest and is anticipated to start immediately, with a completion timeline of 12-18 months.

🏖️ Siblu acquires Camping De Tol in the Netherlands and Domaine Sous Les Pins in France. In the Netherlands, Camping De Tol spans 12 hectares in Nunspeet, an hour from Amsterdam, with plans to expand from 173 camping-caravanning pitches and 119 mobile homes to 260 mobile homes. This marks Siblu's sixth location in the country. In France, adding Domaine Sous Les Pins grows Siblu's La Pignade Village in La Tremblade from 487 to 580 pitches.

🏨 Invesco Real Estate sold an asset, the NH Collection Milan CityLife hotel, opened in 2022 and located in Milan’s CityLife district. The hotel has 185 rooms and is part of Schroders Capital European Leased Hotel Fund. Schroders Capital, managing €3.6 billion in hotel investments, now has three hotels in Italy, including the Westin Milan and the St Regis Venice, and employs a team of 40 experts across Paris, London, and Amsterdam. The sale is part of Invesco’s plan to reallocate funds for strategic investment opportunities.

🏖️ Migros, a Swiss retail and insurance giant, has sold its tourism subsidiaries Hotelplan and InterHome. Hotelplan was acquired by Dertour Suisse, a subsidiary of German Dertcour, for an undisclosed amount. HomeToGo purchased European competitor InterHome for 150 million Swiss francs (€160 million), with a potential additional payment of €90 million by 2029. HomeToGo, founded in 2014, boasts 15 million listings in 200 countries and has previously acquired Tripping.com in 2018, Amivac in January 2022, eDomizil in March, and 51% of KMW Reisen and Super Urlaub in December 2023.