TUI sails away from boating and adventure arms

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Holiday business Tui has put its specialist adventure travel-to-sailing business up for sale. 

Tui, the world’s biggest tourism group, said that it would sell off a group of 50 travel brands including Exodus, Hayes & Jarvis and Sunsail because they did not fit with its business model to handle everything from the booking site to the airline and hotel in a traveller’s purchase.

Tui, which owns the Thomson holidays brand, will retain the Crystal Ski and Thomson Lakes & Mountains businesses, which will be moved within the UK business.

Tui reported a typical seasonal loss of €236.9 million in the first half, a 16.3% improvement on last year’s numbers. 

Fritz Joussen, chief executive, told the Standard: “These are very strong results with another period of growing revenue. We will grow earnings by at least 10% this year, which shows the resilience of the travel market and also of our business model.”

The firm said it was seeing a swing away from the Eastern Mediterranean countries to the Western Mediterranean.

Source Article from http://www.standard.co.uk/business/tui-sails-away-from-boating-and-adventure-arms-a3245261.html

May 11, 2016 |
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