POELLATH advises the shareholders of Corporate Rates Club (“CRC”) on sale to the French CDS Groupe
Retroactively as of January 1, 2023, French hotel booking platform CDS Groupe (“CDS”) has acquired Corporate Rates Club (“CRC”), a specialist in the business travel sector with approximately 750,000 accommodations around the globe that are suitable for business travel. CRC will become part of CDS Groupe, but will initially remain independent in terms of management and structure.
Michael Krenz, CEO of Corporate Rates Club, will remain at the helm of the company until further notice. With the acquisition of CRC, the French corporate group CDS is now represented in the German market for the first time.
Stralsund-based Corporate Rates Club was founded in September 2002 as a division of TourisMarketing Service GmbH.
The company is has expertise in handling hotel bookings and hotel accounting for cost-conscious companies with business travel and conference capabilities, and offers access to an extensive range of accommodations in all categories worldwide. Its hotel booking portal can be accessed via a customizable, web-based booking portal or by integrating CRC’s hotel offering directly into its customers’ online booking engine.
CDS Groupe sees itself as the leading hotel platform for business travel in Europe, with a wide range of hotel booking tools and services. The company employs approx. 300 people in France, Italy, Poland and - following the acquisition of CRC - now in Germany and Croatia.
POELLATH advised the shareholders of CRC on the legal and tax aspects of the transaction with the following team:
- Otto Haberstock (partner, lead, M&A/private equity, Munich)
- Gerald Herrmann (partner, tax, Munich)
- Daniel Wiedmann (associated partner, distribution and antitrust law, Frankfurt)
- Dr. Dominik Sorber (senior associate, employment law, Munich)
- Daniel Zhu (senior associate, M&A/private equity, Munich)
- Moritz Löffler (associate, M&A/private equity, Munich)
- Jannis Lührs (associate, tax, Munich)
