CDS Groupe Buys Rydoo Travel Platform
Rydoo, a Belgian cost management software provider, is selling its travel platform to France -based hotel reservation technology company CDS Groupe, according to a May 12 report by PhocusWire.
CDS Groupe reportedly aspires to be Europe’s leader in hotel reservation solutions for business travel. The company’s solution can handle payments, invoicing and personal reporting, along with bookings.
Rydoo’s travel team will join the CDS Groupe, and Rydoo Travel Vice President of Sales and Operations Pierre Mesnage will head the travel unit. The terms of the deal were not disclosed.
“This acquisition aims to strengthen the implementation of CDS’s strategy that will accelerate the growth of its international expansion,” said Ziad Minkara, CEO of CDS Groupe.
Rydoo was launched in 2018, and the company separated cost management and travel booking units about a year ago. Rydoo’s customers include names like Burger King, Deloitte and Singapore Airlines, per report.
Now that the travel unit has been sold, Rydoo reportedly wants to focus on cost solutions, which will enable travel management links with a variety of partnerships.
Travel is back from the worst parts of the 2020 quarantine months, accompanied by improvements such as the removal of mask bans.
Last month, the Global Business Travel Association published a report that found that 86% of respondents gave the green light to unnecessary home business travel – a 10% increase since last poll in February this year.
See also: The Departure of Business Travel Seems Soon as Conditions Improve-But Who Really Knows?
“We’ve seen significant gains in the return of business travel, especially in the last month or two,” said GBTA CEO Suzanne Neufang at the time. “The level of booking and travel spending continues to return, and there is a high level of optimism and employee willingness to travel for business.”
Three -quarters of companies that suspended most or all trips to a specific country reportedly planned to return home travel. The report also found that more than half planned to return to international travel within three months in late April.
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