TUI buys Italian start-up
TUI in Germany has bought Italian technology start-up Musement to strengthen its position in the excursions, tours and activities business.
It said it was already one of the leading providers in this market through its Spanish subsidiary TUI Destination Experiences and this deal would allow it to grow further in this ‘high-margin’ segment.
Milan-based Musement was founded five years ago and currently offers travellers around 35,000 products, including tickets for museums and guided tours, in 1,100 cities worldwide.
It has 130 employees and one million users.
The start-up will initially be managed as an independent unit within TUI Destination Experiences.
"With the acquisition of Musement, we are taking a further crucial step in this direction," said Fritz Joussen, CEO TUI Group.
TUI said TUI Destination Experiences is one of TUI Group’s three growth areas alongside Hotels & Resorts and Cruises.
It said the tours and activities market of suppliers is still highly fragmented.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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