Youtravel boss takes control of Greece hotel chain
Youtravel founder John Kent has taken control of UK-based Aquis Hotels & Resorts, which operates 11 properties in Greece.
The move follows yesterday’s announcement that German tour operator FTI Touristik is planning to take a significant stake in YouTravel.
A statement issued today said that entities owned by the Ionnis-John Kent family had taken complete control of Aquis UK, which was previously jointly owned by Kent and Sheikh Tahnooon Bin Zayed Al Nahyan.
The company said it was not a cash transaction but that Sheikh Al Nahyan’s shares in Aquis were exchanged for other "business assets".
In March, Youtravel said it had secured new funding from its Abu Dhabi investors, to enable it to grow the business.
Aquis, which operates four and five-star hotels, said sales this month were lower than anticipated, but it said it had increased market share in the UK.
It said that in particular, Thomson Platinum Adults-Only property, the Aquis Agios Gordios Beach in Corfu was selling well.
The hotel group said it had a series of new projects planned in the coming years and that it intends to strengthen its presence in Greece and expand in the Eastern Mediterranean region.
By Linsey McNeill
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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