German tour operator FTI Touristik GmbH is set to become a significant shareholder in bed bank Youtravel.com.
The agreement was announced this morning but is still subject to the approval of the German Cartel Office. Further information will be released in the next few days.
Youtravel saw the departure of UK managing director Matt Cheevers in March with founder and chief executive John Kent saying he was going to be more involved in the day-to-day running of the business, so the position of managing director would be dissolved.
He announced the management changes along with the news that the accommodation-only specialist had secured new funding from existing Abu Dhabi shareholders to accelerate its growth, see previous story.
Kent said he would be actively involved in the sales strategy and implementation, leading the sales team together with head of UK sales Hannah Wheeler and head of commercial Liz Garfield.
Monday, May 14, 2012
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