Paravion, one of the largest online travel agencies in Romania, controlled by Spanish investment fund GED Capital, has expanded to Turkey following the acquisition of Bavul.com.

Bavul.com, a well-known brand on the Turkish tourism market, was previously owned by telecom operator Turkcell. The Turkish telecom company founded Bavul.com in 2011. The platform currently has 300,000 Turkish users.

Paravion will carry its activities in Turkey under the Bavul.com brand, according to a statement of the company.

Paravion started its international expansion in early-2013, with an increasingly higher presence in Bulgaria and Cyprus. Turkey is also an important country for the Romanian tour operator, considering its size and the travel market’s significant potential.

“In 2014, Paravion’s regional expansion generated an increase in online business of over 60%. Following the acquisition of Bavul.com, Paravion targets total online sales of over EUR 40 million for 2015, with a higher growth rate than last year’s,” said Juan Antonio Carrasco Ferrer, CEO Paravion.

“Moreover, Bavul.com could help us enter other markets bordering Turkey very soon. The Paravion brand will be used in Central, Eastern and Western Europe,” he added.

Paravion has set up a local team in Istanbul, which provides customer support, contracting and financial services for Bavul.com.

Paravion is one of the largest online tour operators in Romania. Romanian Remus Visan founded the company and Spanish investment fund GED bought a majority stake in 2010. Paravion operates in several markets in Eastern Europe and Turkey.

Irina Popescu, irina.popescu@romania-insider.com