ADVERTISEMENT acquires maiUtazá group,


Accommodation search website has concluded the acquisition of the maiUtazá group and Kft., strengthening its position against large international competitors, says a press release sent to the Budapest Business Journal.

The signing of the deal, with József Szigetvári, CEO of, seated far left.

The acquisitions were financed with own resources, as well as capital from the equity funds of owner OTP Bank, said, without revealing the purchase price. Magyar Eximbank is another stakeholder in, which operates in five countries in the region, noted state news wire MTI.

With the acquisition of maiUtazá, the companyʼs team will grow with 26 members. In 2018, the maiUtazá group posted revenue of HUF 1.8 billion, compared with Szallas.huʼs HUF 4.2 bln. had sales of HUF 1.2 bln, MTI reported.

"The trusted travel agency background of the acquired company group is a serious opportunity for us, as we can provide even better-quality services, friendlier prices, and guarantees for our guests looking for a foreign destination," said József Szigetvári, CEO of "Our special aim is making travel agency activities a strong pillar of our company group by 2020."

Complete integration is expected to happen by the end of 2020. says that will remain an individual company. With the integration, the group wishes to utilize the possibility of selling so-called adventure packages as, a specialist business in selling these packages, is also included in the deal.

"We were looking for an investor that helps the growth and development of the maiUtazá group, as well as its possible entry to international markets," said András Szennay, managing director of the group. "The industry experience and knowledge capital of the group, as well as its professional network system and international presence, is a warranty for all of the above."


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