Hotelbeds, a Spanish travel technology company, is preparing for an initial public offering (IPO) next year and is interviewing banks to lead the sale of over €1 billion in shares, according to anonymous sources. The company, advised by Evercore, is expected to appoint a pair of banks as global coordinators, alongside Morgan Stanley. Hotelbeds and its shareholders, including private equity funds Cinven and EQT, are leaning towards listing in Madrid. The discussions are in the early stages and the plans may be modified or abandoned. The potential IPO reflects the improved investor sentiment towards new stocks. Hotelbeds, headquartered in Mallorca, provides travel agencies, airlines, and tour operators with access to hotel rooms worldwide. The tourism industry has rebounded as travel restrictions have been lifted following the COVID-19 pandemic. Hotelbeds reported its best 15 days ever for booking revenues earlier this year, with bookings peaking at one reservation per second.
Hotelbeds intervista le banche per un'IPO da oltre 1,1 miliardi di dollari – fonti