Despegar Sells Destination Unit to Iberostar Group, 600 Employees Transfer

Key Points

• Despegar sold BDExperience to Iberostar Group's World2Meet.
• Nearly 600 employees will transfer to World2Meet as part of the deal.
• The companies entered a strategic alliance for destination services in Mexico and the Dominican Republic.

Summary

Despegar, Latin America's largest online travel company, sold its destination management unit, BDExperience, to Iberostar Group's division, World2Meet. Nearly 600 employees, about 13% of Despegar's workforce, will transfer to World2Meet. The deal, closed on August 1, includes a strategic alliance where World2Meet will provide destination services in Mexico and the Dominican Republic, allowing Despegar to focus on its core services.