BANGKOK, 9 July 2018: Spain’s Logitravel Group and one of Thailand’s leading destination management companies, CBS Travel Asia, confirmed at the weekend a joint venture that will give the European group a foothold in Southeast Asia.
Logitravel Group has bought a stake in CBS Travel Asia that will open the door for the Spanish online travel agency to expand its footprint to Asia’s major leisure travel markets.
It has 12 offices, worldwide, in Europe, South America and Dubai and its first expansion in Asia will establish its 13th base to sell both inbound and outbound travel between Asia and Europe.
Long-term, the company plans expansion to other major markets across Asia.
Through the latest joint venture, the Thailand-based DMC will gain access to international markets covered by the Logitravel Group, offering added value for its B2B customers through the group’s technology and global distribution network.
CBS Travel Asia will operate as the regional partner of Smyrooms, the Logitravel Group bed bank. The joint venture will involve the integration of CBS Travel Asia’s full travel content for distribution through the group’s XML platform to more than 1,000 online travel agents, tour operators and B2B partners.
By acquiring a stake in CBS Travel Asia, Logitravel Group is making a firm commitment to expand its business using Thailand as a regional hub, to extend its footprint to Cambodia, Vietnam, Malaysia, Myanmar, Indonesia, Laos and other countries in Asia.
Financial details were not disclosed, but it is understood joint venture talks first commenced in early 2017.
Commenting on the acquisition, Tomeu Bennasar, Logitravel Group CEO said: “We identified a boom in demand for Asian destinations and our objective is to connect the full tour content in popular destinations to all our international partners through CBS Travel Asia, that provides local direct booking in each destination, allowing us to offer very competitive prices and conditions for all our international customers”.
He added: “Thanks to this joint venture, our group will also significantly expand its travel products available in the Asia-Pacific region, which guarantees major cover and exposure for the Smyrooms project”.
Samuel Selma, Smyrooms CEO, commented: “Through this joint venture, we can offer more than 3.000 properties in Thailand alone though our distribution channels. It also forms part of our product enhancement strategy targeting major outbound markets across the Asia-Pacific region to which Smyrooms has access thanks to this joint venture partnership.
“What’s more, the huge increase in international demand and the comprehensive air links to Thailand makes it a geographically strategic destination for the company to have a regional base”.
According to the CBS Travel Asia CEO, Sivachak Ussamarn: “We’re very enthusiastic about our joint venture with Logitravel Group and are convinced that the partnership between two highly successful companies will ensure a strong and bright future as Asia’s leisure travel markets grow, allowing us to distribute innovative travel content in Asia to international markets and from Asia to the world. ”
Day-to-day management of CBS Travel Asia will remain unchanged with Sivachak Ussamarn (Nicky) continuing to head the company as its CEO, supported by CFO, Siroj Ussamarn and product director, Sasimol Ussamarn.
Company founder, Chaladol Ussamarn, assumes the role of chairman.
About Logitravel Group
Logitravel Group specialises in holiday travel and technology. The main companies of the Group are the online travel agency Logitravel.com, the B2B company Traveltool (serving traditional agencies), the bed bank Smyrooms, and the tour operator SmyGroup (generating product for all the Group’s distribution channels). Founded in 2004 and with a worldwide presence, Logitravel Group boasts more than 800 employees with extensive experience in the tourism industry. In 2017, the group’s companies recorded a turnover of 685 million euros, up 8% on the previous year.
About CBS Travel Asia
Established in 1999, CBS Travel Asia is one of Thailand’s leading B2B XML Wholesaler and Destination Management Companies. Founded by a veteran of Thailand’s highly successful inbound travel industry, Chaladol Ussamarn, has accumulated an extensive understanding of Asian tourism, based on 35 years of hands-on operational experience.
Apart from B2B hotel accommodation business through API, CBS focuses on ground services operations, sightseeing and cultural tours in destinations across Asia (Thailand, Cambodia, Myanmar, Vietnam, Laos, Indonesia, Malaysia.). With 80 professional staff and based in its headquarters in Bangkok, Thailand, CBS reported a turnover of over 20 million euros in 2017, a 15% increase over 2016.