TUI sails away from boating and adventure armsComments Off on TUI sails away from boating and adventure arms
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.