Travelport Plans to Sell GTA Wholesale Business to Kuoni for $720 Million

Travelport Plans to Sell GTA Wholesale Business to Kuoni for $720 Million

Travelport said it would sell GTA, its wholesale business, to Kuoni, a major global leisure travel company, for $720 million. Travelport said that sale is part of its plan to maximize the potential of its core business.

GTA provides hotel accommodations and related ground travel services. Its content includes more than 35,000 hotel properties, with instant confirmation, in over 130 countries. Other GTA travel services include sightseeing tours and attractions, private transfers, group travel and rail passes. GTA distributes accommodations and other travel services through travel wholesalers, tour operators, travel agencies as well as directly to travelers. 

Last year GTA’s total transaction value was $1.88 million. Its net revenue was $294 million and adjusted EBITDA was $84 million. Travelport will use the sale to pay down its bank debt.