TUI Group has reached an agreement with UK investor Cinven Capital Management and Canada Pension Plan Investment Board to sell Hotelbeds Group for around 1.2 billion euros. The Executive Board and the Supervisory Board of TUI Group approved the disposal in Berlin today.
The new hotel brand TUI Blue is expanding its portfolio. Following the launch of the first two hotels in Turkey in May, two further hotels will follow before the end of the year, with one TUI Blue hotel to open in Schladming in Austria in November, followed by the launch of a further hotel on Fleesensee in Germany.
TUI Group, one of the largest travel companies in Europe, has joined the vacation rental fray with the unveiling of TUIVillas. The brand is being positioned as a way for travellers to find private rental accommodation from individual owners, local agencies and tour operators in some 70 countries around the world.