Hotel Wholesalers Evolve into Industry Giants, Limiting Risk Diversification for Independent Hotels
🏨 On July 24, 2026, Markus Busch discusses the transformation of hotel wholesalers into giants. Hotelbeds acquired Tourico Holidays and GTA in 2017, forming HBX, now a publicly traded company reaching 250,000 hotels and 60,000 sellers. RateHawk, part of Emerging Travel Group, handled $4.8 billion in bookings last year. Some wholesalers became OTAs, like Booking and Expedia. Hotel operators should reassess their reliance on these large networks, as true independence is rare.
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