HBX Group acquires 100% of PerfectStay

HBX Group acquired a 25% stake in PerfectStay in June 2024, and this transaction now fully integrates the business within the Group.

The acquisition reflects a shared vision of the long-term potential of vacation packages as a strategic growth opportunity within the B2B2C segment of the travel industry, bringing together complementary capabilities in technology, global offering and implementation experience.

“This investment strengthens our ecosystem strategy and expands our role within the travel value chain. By combining PerfectStay’s proven package technology with HBX Group’s global hotel inventory and distribution scale, we are reinforcing our proposition for clients looking to enter or accelerate their growth in this market,” said Nicolas Huss, CEO of HBX Group.

For his part, Raphaël Zier, Executive Chairman of PerfectStay, stated: “We created PerfectStay to help major brands develop vacation offerings, something we have achieved thanks to a winning combination of technology and implementation expertise. Our full integration into the HBX Group gives us access to the world’s largest hotel inventory, global scale, and the resources needed to accelerate the deployment of solutions for our clients. For them, this translates into better hotel content, improved pricing strategies, and a faster time to market.”

Expansion of collaboration agreements in the B2B2C travel market

The full acquisition of PerfectStay strengthens HBX Group's position to support its partners in creating or expanding holiday offerings.

Airlines, banks, and major consumer brands are increasingly looking to offer vacation packages to their customers, reflecting the growing interest in this segment. Vacation packages offer attractive economics for these partners within the business-to-business-to-consumer (B2B2C) market, estimated at $50 billion and growing at a faster rate than the rest of the tourism sector.

PerfectStay works with a growing number of airlines to power advanced dynamic bundling platforms, including Turkish Airlines Holidays, launched in 2025. Each platform offers these partners' customers access to HBX Group's extensive global inventory of hotels, experiences, and transfers, powered by PerfectStay's dynamic bundling technology. Furthermore, there is a strong pipeline of future opportunities.

Additionally, HBX Group and PerfectStay jointly power more than 55 white-label platforms that offer hotel solutions and dynamic packages to banks, loyalty programs and consumer brands worldwide.

Value creation and strategic execution

The transaction, which closed on March 31, 2026, expands HBX Group's initial 25% investment in PerfectStay through a long-term, performance-based, EBITDA-linked structure until 2030. The deferred payment mechanism ensures strong coordination in value creation without impacting 2026 cash flows and maintaining a disciplined capital allocation. The consolidation of PerfectStay is not expected to significantly affect HBX Group's guidance for fiscal year 2026.

Package holidays continue to evolve as a strategic area of ​​focus for many partners. The full integration of PerfectStay into the HBX Group further strengthens the Group's ability to support its partners with scalable technology, a global offering, and agile and efficient execution.

As part of the HBX Group, PerfectStay will benefit from significant operational and commercial synergies, as well as efficiency improvements, including centralized suppliers, better conditions in fintech, AI-driven operations, and greater distribution opportunities.

The engine of pa

PerfectStay's advanced dynamic queries and white-label solution capabilities will be fully integrated into HBX Group's technology infrastructure, enabling:

Comprehensive product and roadmap control;
Integration of AI-powered operations, smart pricing, and customer service capabilities;
Faster deployment of tailored travel solutions for airline and non-airline partners;
More cross-selling and conversion opportunities within the HBX Group ecosystem.
PerfectStay will continue to operate from its headquarters in Paris, supported by the HBX Group's global Technology, Product, and Sourcing teams.

Fuente: HBX Group.