Travel wholesaler Destinations of the World (DOTW) has announced the acquisition of Seoul based BICO Trip, a major wholesaler in the Asian accommodation sector.
Following the acquisition, DOTW now offers B2B clients a combined inventory of more than 150,000 properties worldwide, with 37,000 contracted directly.
The purchase of BICO Trip gives DOTW a major presence in Asia Pacific with a large regional footprint, said James Burdett, CEO of Destinations of the World.
"BICO have built a business with an enviable position in complex markets with high barriers to entry. These markets play a pivotal role in regional travel and are highly complementary with our existing destination and distribution strengths," Burdett said.
The deal includes nine regional offices located throughout Asia Pacific including South Korea, Japan, Thailand and Singapore.
Jackie Lee, chief executive officer of BICO Trip said: "DOTW brings a significant global product strength and diversity to our customers and will give our suppliers access to a truly global distribution platform. This enhanced proposition will enable us to accelerate growth across our key markets and take the company to the next level."
