UPDATED WITH ACQUISITION PRICE AND OTHER M&A DETAILS:
16.04.2024 - 18:35 / skift.com / Greg Ohara / Jesse ChaseLubitz
Certares, a leading travel and tourism investment firm acquired FTI Group, the third-largest tour operator in Europe.
This deal ends a restructuring begun in September to strengthen FTI’s finances.
The consortium will own all of the share capital, and FTI will get about $130 million (€125 million) to funnel into its digital transformation and growth.
“Certares’ extensive industry experience and the new capital funding position FTI for exceptional growth,” said Karl Markgraf, CEO of the FTI Group.
Certares holds stakes in a range of tour companies like G Adventures, Tripadvisor, AmaWaterways and American Express Global Business Travel. The company also owns Hertz and acquired several hotels in the last year. Certares founder and senior managing director Greg O’Hara became the chair of the World Travel & Tourism Council in November.
Munich-based FTI Group has 120 subsidiaries in German speaking markets, the Netherlands, UK, France, and other destinations.
The group had 6 million customers as of 2022, the latest figures available. The company has also signed a memorandum of understanding to be a launch partner with Saudi Arabia for increased multi-day tours in the Middle East.
Competitors to FTI include the giant TUI Group, DER Touristik, Kuoni, and Hotelplan.
UPDATED WITH ACQUISITION PRICE AND OTHER M&A DETAILS:
Expedition travel leader Lindblad Expeditions announced this week the acquisition of Wineland-Thomson Adventures, an award-winning adventure travel group, through its subsidiary Natural Habitat Adventures.
InterContinental Hotels Group (IHG) predicted Friday that a recent deal would effectively double its presence in Germany and provide a foothold for stronger growth.
Tel Aviv-based Guesty, which provides property-management system tools for the vacation-rental industry, announced the acquisition of a partner and sometime competitor Rentals United.
Travel tech holding company Travelsoft Group said today that it has acquired Eventiz Media Group, publisher of French travel trade magazine L’Echo Touristique, which was founded in 1934.
On Global Travel Advisor Day (May 1), Ensemble revealed that it owns the domain name GlobalTravelAdvisorDay.com.
I am the youngest of a family of six. But now, we are three: my brother, Mike; my sister, Erin; and me. In the wake of our mother's unexpected death last year, we decided the best way to honor Mom was to stay connected. The previous few years of supporting an aging parent had stressed our relationships, and with our matriarch now gone, we understood how easy it would be for us to drift apart.
Buying a Delta gift card just got more rewarding with the airline’s latest promotion. “Enjoy giving the gift of travel this Mother’s Day with the Delta Gift Card,” the airline shared about the promotion in an email. “For a limited time, buy $300 or more in Delta Gift Cards to earn a $20 Starbucks eGift.” This deal ends on Monday, May 13, at 11:59 p.m. EST, but may be taken down sooner as the offer is only available to the first 7,000 buyers. It's also worth noting that travelers will only receive a $20 Starbucks eGift when purchasing gift cards directly through Delta, not a third-party site.
Last Christmas, my youngest son got me a "Wonder Mom" coffee mug from his school's holiday fair. It's red and blue with yellow stars and makes me smile whenever I see it in the cupboard. While I appreciate the sweet gesture, the gift didn't come with any superpowers. If it did, they would come in handy on school days. Allow me to explain.
It is an almost hypnotic experience visiting a techno club in Berlin.
Artificial intelligence is transforming the way you buy travel insurance. From shopping for a policy to filing a claim, there's no part that hasn't been touched by AI.
With the spotlight on sustainability like never before, the hospitality industry the world over can – and is – playing a key role in supporting government ESG initiatives and green goals.