Spain's HBX lifts low end of transaction value guidance as Q3 shows signs of recovery

By Gemma Guasch

July 29 (Reuters) - Spanish travel technology firm HBX Group raised the low end of its guidance range for total transaction value on Wednesday, after a gradual recovery in previously disrupted travel corridors and good booking momentum boosted third-quarter performance.

HBX had trimmed its full-year guidance in May, warning the conflict in the Middle East was impacting travel routes and prompting travellers to reconsider their bookings in the region.

The company now sees total transaction value growth of between 13% and 15%, instead of the previously guided 11% to 15%. It said it expected the Middle East crisis to impact this metric by about 3 percentage points, compared with an earlier 4-point estimate.

HBX also narrowed its revenue range for the year to between 0% and -2%, from -4% to +1% previously.

"Looking beyond 2026, our medium-term ambition remains unchanged, and we expect to make progress towards it in 2027," Chief Financial Officer Brendan Brennan told analysts.

HBX, which buys hotel lodgings, car rentals and other products and resells them in bulk to travel agencies and retailers, reported a 12% jump in its third-quarter total transaction value to €2.4 billion ($2.7 billion).

“Growth reflected our clear strategy and focus on execution, supported by strategic partnerships, ecosystem expansion and the increasing deployment of AI across the organisation,” CEO Nicolas Huss said.

In the longer term, the group is seeking growth both organically and through acquisitions. It has recently bought AI-native organisations like Bridgify and CivitFund.

The HBX stock has lost about 38% of its value since going public in February 2025, weighed down by two outlook cuts, concerns over AI-driven industry disruption and the impact of geopolitical turmoil on tourism.

The company also said Huss would retire at the end of September, when the fiscal year closes. Brennan is set to act as interim CEO until a new chief is announced by the shareholder meeting in February 2027.

($1 = 0.8772 euros)

(Reporting by Gemma Guasch; Editing by Milla Nissi-Prussak)