30 September 2008

Kuoni to buy Australian destination management company

Kuoni is to buy the business activities of Australian Tours Management, based in Melbourne, for an undisclosed sum.

The deal is due to be formally finalised on November 1.

Australian Tours Management works on behalf of foreign tour operators in Australia's destination management market.

It was founded in Melbourne in 1983 and has further representations in Sydney, at the Gold Coast and in Taipei, Taiwan.

The Australian Tours Management brand and its 31 employees will be retained, including the management team.

Within the Kuoni Group, the business activities of ATM will be transferred to a new company and integrated into Strategic Business Division Destinations.

Rolf Schafroth, head of strategic business division destinations, said: "We see significant growth potential in Australia in the medium term, especially for travellers from Asian countries."

By Bev Fearis

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