NEWS TRAVEL WEEKLY BUSINESS CONTINUED FROM THE BACK
The newspaper identified the top concerns for business as “whether companies will have the same access to European clients and markets, whether EU nationals will be able to remain on staff . . . how abruptly the UK would leave the EU [and] whether an exit could disrupt immediate aspects of operations”. Jean-Claude Piris, former
director-general of legal services at the Council of the EU, noted last month: “EU treaties with third countries would cease to apply to the UK. Britain would need to adopt new customs laws and tariffs and re-establish controls at borders, including with Ireland. Goods and services would be subject to EU tariffs.” There could be implications
for open-skies aviation deals such as that with the US, and the UK might have to review legislation to implement EU directives. The uncertainty could affect
the value of sterling, with Bank of England governor Mark Carney warning last week of financial instability and higher lending rates. Abta is keen to understand
the implications and held a meeting on the issue last month. Head of public affairs Stephen D’Alfonso said: “We produced a discussion paper and invited a cross-section of members to identify concerns. We’ll launch a consultation in the next month, looking at things from the operating point of view, the customer point of view and the macro-regulatory view.” D’Alfonso insisted: “It’s
not Abta’s role to take a view. Abta will assess what leaving could mean for the industry. Individuals will take a personal decision in a ballot. “Our role is to inform the discussion in the industry. That is what the report will do.”
Private equity firm buys Kuoni and eyes Hotelbeds
Ian Taylor
ian.taylor@travelweekly.co.uk
Swiss-based Kuoni accepted a $1.4 billion takeover bid this week after selling its tour operations last year and the new owner is reported to be looking to merge the travel services group with Hotelbeds, the Tui- owned accommodation brand.
Kuoni and Swedish private
equity firm EQT Partners finalised the takeover at the weekend after Kuoni named EQT as its “preferred bidder” last week. EQT is reported to be preparing an £800 million bid for Tui-owned Hotelbeds. Tui put Hotelbeds up for sale last year. The Swiss travel group retained
its destination-management, visa and bed bank businesses when it sold its tour operations, including Kuoni UK, to German group Der Touristik in a €110 million deal completed last September. The takeover by EQT follows a
“comprehensive assessment of all strategic options”, said Kuoni. Group chief executive Zubin Karkaria will continue to lead the company. EQT partner Michael Bauer described Kuoni as “one of the world’s leading travel services providers” and said: “It is our
Sweden’s Paxport buys Multicom for undisclosed sum
UK travel technology provider Multicom has been acquired by retail software company Paxport of Sweden for an undisclosed sum. Stockholm-based Paxport supplies airlines and other travel sellers with passenger- management, ancillary-
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travelweekly.co.uk 4 February 2016 SALE: Kuoni sold its tour operations to Der Touristik last September £800m
Sum Kuoni’s new owner is reported to be tabling for Hotelbeds
ambition to enable the Kuoni Group to strengthen the market position of its businesses through organic growth and acquisitions.” Karkaria said: “Investments
in technology and supporting acquisition opportunities give the Kuoni Group an excellent platform to build on its leadership positions in travel industry services.”
merchandising and other software. The company is a partner of airline association Iata in the development and testing of its New Distribution Capability (NDC). Multicom, based in Bristol, runs
the FindandBook system and related software used by agents and tour operators including Tui, Thomas Cook, On The Beach, SuperBreak and Lowcostholidays. The enlarged company will
have about 100 staff and be headquartered in Stockholm,
Tui is reported to be seeking
€1 billion for Hotelbeds. A business-to-business supplier of accommodation, transfers and activities, Hotelbeds claims to be the world’s biggest bed bank and sold more than 25 million bednights last year, leading to pre-tax profits of £90 million. Set up by First Choice in 2001
and merged into Tui in 2007, Hotelbeds is based in Majorca and employs 1,500 staff. Consumer accommodation subsidiary Hotelopia supplies beds and Atol protection to easyJet Holidays. Tui is due to update analysts
when it reports its first-quarter results next week.
although Multicom will remain located in Bristol. Paxport chief executive Tony
Barker said: “There are great synergies and we believe the timing is perfect. “Together, we’ll bring the
traveller experience to a new level by aggregating and merchandising flights, hotels and other services in different channels.” He said the company aims to “become the leading provider in this field”.
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