Kuoni offloads travel to JTB

BANGKOK Once a mega tour operator, what remains of Kuoni Global Travel Services’ tour operations will be bought out JTB Corporation, just weeks after Thomas Cook India acquired the Swiss group’s network of destination management companies.

In its media release, Wednesday, Kuoni Global Travel Services confirmed it had been acquired by Japan’s JTB Corporation.

“The partnership formed between Kuoni Global Travel Services and JTB Corporation will open prospects to become a global No 1 Destination Management Company,” the statement read.

“The transaction will create opportunities to increase business in growing markets across the world through extension of local product offerings and expanding the complementary global MICE services,” said Kuoni Global Travel Services CEO Reto Wilhelm.

JTB was described as the best-positioned owner, which “will help us realise the full potential of Kuoni Global Travel Services.”

The deal signing was witnessed by JTB’s president & CEO Europe, Eijiro Yamakita.

He said: “Kuoni Global Travel Services is one of the world’s leading travel companies with an important presence especially in Asian leisure and corporate groups visiting Europe.”

The parties have agreed not to disclose further details regarding the purchase price or their contract. The acquisition is subject to approval by the relevant competition authorities and compliance with any other local legal requirements.

Both parties confirmed there will be no imminent changes to the current company structure, and the company entities will continue to operate their businesses independently during the transition period.

Last month, Kuoni Global Travel Services sold its network of Destination Management Specialists (DMS) in Asia, Australia, Middle East, Africa and the Americas to Thomas Cook India Group.

That sale consisted of six largely independent, entrepreneurially managed DMCs.

They were: AlliedTPro (US); Asian Trails (Southeast Asia); Australian Tours Management (Australia); Desert Adventures/Gulf Dunes (Middle East); and Private Safaris (East Africa, Southern Africa).

That sale left Kuoni Destination Management Europe and Kuoni Destination Management US (the Global MICE business) in the portfolio of Kuoni Global Travel Services, now acquired by JTB.

Kuoni Global Travel Services offers destination services, from accommodation, transportation, tours and activities, to venue and event management. It handles 50 000 leisure tours per year.

It operates group travel under the brand Kuoni Group Travel Experts, and global MICE under the brands Kuoni Destination Management, Kuoni Congress and Conference & Touring.

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