Kuoni to sell tour operating businesses

Branches in Italy, Spain, Netherlands, Belgium, Russia to be sold

Kuoni has announced it will sell some of its smaller loss-making tour operating businesses. The Swiss-based operator’s share price rose on the news. The businesses affected are Kuoni’s tour operating activities in Italy, Spain, the Netherlands, Belgium and Russia, as well as the B2C online hotel platform Octopustravel. The company said it no longer wanted to run these activities and would explore exit options.
A financial analyst, Jonathan Wall, told TTG Digital: “Businesses that continually acquire sometimes have to cut back as well as grow. Sometimes in a big company it takes too much time to run parts of the organisation. Sometimes the answer is to get back to the core and keep the best bits. I don’t think it’s anything shocking. I expect it’s a good pragmatic decision for the business. If you don’t need to be the biggest, you’ve got to be the best.”
TTG Digital
[pictured: Maldives]

x

Check Also

Tourists evacuated from Alpine ski resort

Skiers stranded due to heavy snow and avalanche risk

EU blamed as Niki files for bankruptcy

Lufthansa’s attempted takeover allegedly stopped by EU

World’s steepest funicular opens in Alps

Schwyz-Stoos funicular is a triumph of Swiss engineering

Thomas Cook, tour operator, credit card, currencies, lira, rand, franc, euro, prepaid

Thomas Cook launches multi-currency card

Prepaid travel card allows for 10 currencies at once

Surf Air, London, Europe, Switzerland, Cannes, Zurich, airline, business

New airline aims at business travellers

Surf Air Europe to steal high-paying customers

Boeing, 777, Siss, Switzerland, Airbus, a340, Hong, Bangkok, Singapore, China

Swiss ups capacity on Zurich-Singapore

Decision driven by growth in travel from Asia