Majority stake in Indonesian hospitality marketplace MG Group acquired by Creador

Creador, a private equity firm based in Malaysia, announced that it had acquired a majority share from Northstar and other shareholders in MG Group, a business-to-business (B2B) hospitality marketplace based in Indonesia.

In a statement, Creador said that this investment strengthens its position in one of the most dynamic and rapidly expanding industries in the world by allowing it to enter the rapidly expanding global travel market.

The statement claims that a growing middle class and an increase in first-time tourists are driving Southeast Asia’s travel industry’s strong recovery in the post-pandemic era.

The industry is well-positioned for long-term, steady growth with substantial growth potential.

Since its founding in 2000, MG Group has expanded throughout Southeast Asia and become the dominant force in Indonesia.

The group is a major player in the travel and hospitality ecosystem of the region, connecting over 350,000 accommodation suppliers with over 8,000 global accommodation buyers through a scalable distribution technology platform.

“As our 11th investment in Indonesia since 2011, this reaffirms our dedication to supporting the country’s thriving economy and growth-oriented businesses,

“MG Group’s market leadership and strong relationships with prominent accommodation suppliers and buyers make it well-positioned for exceptional growth across the region,” said Brahmal Vasudevan, Founder and CEO of Creador.

“We are impressed by the remarkable progress MG Group has achieved under its previous shareholders, and we are excited to partner with the management team on the company’s next phase of growth and enabling its global ambitions,” he added.

According to Wong Chee-Yann, Northstar’s chief investment officer, MG Group successfully managed the Covid pandemic’s substantial effects on the hospitality industry in 2020–21 under Brett Henry’s direction and came out stronger than before.

“They did that by taking the opportunity to digitalize operations, which improved productivity substantially, and established global strategic partnerships, such that MG Group delivered strong profitable growth from 2022,

“We look forward to MG Group’s continued growth and success,” he added.

Meanwhile, Brett Henry, President Director at MG Group, said this is a defining moment for MG Group.

“Partnering with Creador provides us with the resources and expertise to expand our footprint, strengthen our platform, and deliver even greater value to our partners,

“Together, we will shape the future of B2B hospitality in Southeast Asia and beyond,” he added.