Travelopia sold off
Hanover, Germany – 14 February 2017 –
TUI has agreed to sell adventure-travel unit Travelopia to private equity firm KKR for an enterprise value of 381 million euros (US$404 million) as Europe’s largest tour operator focuses on expanding its reach of mass-market hotel and cruise brands.
Trimming specialised units is part of TUI’s plan to grow its customer base in Southern Europe, Latin America and Asia by 1 million customers and add 1 billion euros to its revenue by 2022, Bloomberg reported.
Proceeds from the sale of Travelopia, which is expected to close in the second half … Read More