Tui Group has hoisted the for sale sign over its bedbank division.
The world’s largest tourism group is conducting a strategic review of the business but join chief executive Peter Long said: “The likely outcome is that we will enter a sale process.”
Since Tui AG merged with Tui Travel there have been rumours that some of the non-mainstream assets would be sold off.
Earlier this year, Tui shut its AsiaRooms and Malapronta businesses before selling LateRooms to Cox & Kings for £8.5m.
Specialist businesses
Now it has admitted that it is likely to dispose of Hotelbeds, which reports suggest could fetch €1bn.
When the two Tuis merged, the mainstream tourism businesses were separated from Hotelbeds and the so-called specialist businesses.
However, Long said the latter would probably remain within the group.
Customer offering
“We’re very much looking to keep them [the specialist businesses],” he said and added that “they broaden the customer offering and I think that’s important.”
Brands within the specialist division include: Crystal, Citalia and Sunsail.
Source: www.ttgmedia.com
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