HBX Group acquires full ownership of PerfectStay

HBX Group (HBX.SM) today announced that it has acquired full ownership of PerfectStay, the Paris‑based travel technology company specialised in dynamic holiday packaging solutions for airlines and major consumer brands. HBX Group acquired a 25% stake in PerfectStay in June 2024, and this transaction brings the business fully into the Group. 

The acquisition reflects a shared belief in the long‑term potential of holiday packaging as a strategic growth opportunity within B2B2C travel, bringing together complementary capabilities across technology, global supply and implementation expertise. 

This investment advances our ecosystem strategy, broadening our role in the travel value chain. By combining PerfectStay’s proven packaging technology with HBX Group's global hotel inventory and distribution scale, we strengthen our offering for clients looking to enter or accelerate in this market. Nicolas Huss

CEO of HBX Group.

We built PerfectStay to help major brands develop holiday propositions, achieved through our winning combination of technology and implementation expertise. Joining HBX Group fully gives us access to the world’s largest hotel inventory, global scale and the resources to accelerate delivery for our clients

For them, this means better hotel content, improved pricing dynamics and faster time to market, Raphael Zier, Executive Chairman of PerfectStay

 Expanding partnerships in B2B2C travel

The full acquisition of PerfectStay enhances HBX Group’s position to support partners in building or scaling holiday propositions. 

Airlines, banks and major consumer brands are increasingly looking to offer holiday packages to their customers, reflecting growing interest in the segment. Holiday packaging can offer attractive economics for these partners in the business‑to‑business‑to‑consumer (B2B2C) travel market, which is estimated at USD 50 billion and is growing faster than the wider travel sector. 

PerfectStay works with a growing number of airline partners to power dynamic packaging platforms, including Turkish Airlines Holidays, launched in 2025. Each platform gives partners’ customers access to HBX Group’s extensive global inventory of hotels, experiences and transfers, powered by PerfectStay’s dynamic packaging technology. There is also a healthy pipeline of future opportunities. 

In addition, HBX Group and PerfectStay together power more than 55 white‑label websites offering hotel and dynamic package solutions to banks, loyalty programmes and consumer brands worldwide. 

Value creation and strategic alignment

The transaction, which closed on 31 March 2026, extends HBX Group’s initial 25% investment in PerfectStay through a long-term performance-based structure tied to EBITDA until 2030. The earnout mechanism ensures strong alignment on value creation while not impacting our 2026 cash flows and maintaining disciplined capital allocation. Consolidation of PerfectStay is not expected to materially affect HBX Group’s guidance for FY ’26. 

Holiday packaging continues to evolve as a strategic area of focus for many partners. By bringing PerfectStay fully into HBX Group, we further strengthen our ability to support partners with scalable technology, global supply and a disciplined execution model. 

As part of HBX Group, PerfectStay will benefit from operational and commercial synergies and efficiency improvements including consolidated sourcing, enhanced fintech conditions, AI‑driven operations and expanded distribution opportunities. 

PerfectStay’s dynamic packaging engine and white‑label storefront capabilities will be fully integrated with HBX Group’s technology infrastructure, enabling:

·       End‑to‑end product ownership and control of the roadmap

·       Integration of AI‑driven operations, smart pricing and customer service capabilities

·       Faster deployment of tailored travel solutions for airline and non‑airline partners

·       Increased cross‑selling and conversion opportunities across the HBX Group ecosystem 

PerfectStay will continue to operate from its Paris headquarters, with support from HBX Group’s global Technology, Product and Sourcing teams.