TUI confirms sale of more than 50 brands
TUI confirmed today that it will sell its Specialist Holiday Group, which includes more than 50 brands.
However, two of the biggest brands in TUI’s Specialist Holiday Group – Crystal Ski and Thomson Lakes and Mountains – will not be included in the disposal.
The Specialist Holiday Group (SHG) has been managed as an independent unit by Will Waggott since the merger of TUI Travel with its German counterpart TUI AG in 2014.
CEO Fritz Joussen said the 50-plus brands were successful companies but that there was little integration between SHG and TUI’s core business.
"In addition, the potential impact on profitability and the large amount of brands are strong strategic arguments not to combine the portfolio under the TUI brand. Therefore, we believe that a disposal of Specialist Group in one transaction is the best way to maximise value from these businesses for TUI’s shareholders," he said.
"It will also enable us to quickly focus on the strategic imperatives outlined and strengthen TUI and its international competitiveness."
The intended disposal follows the sell-off of TUI’s bed bank Hotelbeds in the first half of the financial year.
Crystal Ski and Thomson Lakes & Mountains have been transferred to the business in the UK and Ireland with immediate effect.
"Both Crystal Ski and Thomson Lakes & Mountains have strong synergies and vertical integration with the core Tourism business," said TUI.
" Both companies play an important role in utilising our British aircraft fleet in particular during the winter months, and therefore create synergy potential that other specialist businesses do not have."
Waggott will lead the disposal of the Specialist Group.
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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