Loss-making businesses to be sold or closed
Tour operator Kuoni has sold off some of its travel businesses across Europe. As previously reported, the operator wants to withdraw from the loss-making companies it owns. Now it has announced the sale of businesses in the Netherlands and Spain, which were both sold to local management, and of Megapolus Tours in Russia, which was bought by the owner of the tour operator Russian Express.
However, no buyers have yet been found for Best Tours in Belgium or for the B2C online hotel platform Octopustravel. Kuoni has therefore decided to start closing these operations, to be completed during the first half of 2013. Kuoni also wants to withdraw from the Italian market, something that is expected to happen next year.
“The new focus of our tour operator portfolio has already come a long way in three months,” Peter Rothwell, Kuoni Group’s chief executive, said. “By withdrawing completely from the activities concerned, Kuoni is eliminating operational losses and concentrating on strategically relevant areas of business as a global, broad-based travel services provider.”