TUI Group announces closing of Travelopia sale

TUI Group consistently continues its transformation to an integrated tourism group with main focus on hotel and cruise businesses. The world’s number one tourism group today confirmed the completion of the disposal of Travelopia, announced in February 2017, to Kohlberg Kravis Roberts (KKR) for an Enterprise Value of 369 million euros1 (325 million British pounds). All regulatory approvals required have been granted by the relevant authorities. This marks the completion of the transaction.

Travelopia was previously part of Specialist Group and comprises a portfolio of more than 50 specialist travel brands. It had been managed as an independent unit since the merger of TUI AG and TUI Travel PLC at the end of 2014.

About the TUI Group

TUI Group is the world’s number one integrated tourism group operating in around 180 destinations worldwide. The company is domiciled in Germany. The TUI Group’s share is listed in the FTSE 100 index, the leading index of the London Stock Exchange and in the German open market. In financial year 2015/16, TUI Group recorded turnover of €17.2bn and an operating result of €1.001bn. The Group employs 67,000 people in more than 100 countries. TUI offers its 20 million customers comprehensive services from a single source. It covers the entire touristic value chain under one roof. This comprises leading tour operator brands and 1,600 travel agencies in Europe, five European tour operator airlines with approximately 150 medium and long-haul aircraft, more than 300 Group-owned hotels and resorts with premium brands such as Riu and Robinson. With cruise ships ranging from the MS Europa and MS Europa 2 luxury class vessels to the Mein Schiff fleet of TUI Cruises and the vessels of Thomson Cruises in the UK, TUI is also strongly positioned in the growing cruise sector. Global responsibility for sustainable economic, ecological and social activity is a key feature of our corporate culture. TUI has joined the UN Global Compact and, as the only tourism group, it is listed in the renowned Dow Jones Sustainability Index (DJSI) World. Further information is available at www.tuigroup.com (http://www.tuigroup.com/)

RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations , Greek travel market, Greek tourism statistics, Greek tourism report