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Kuoni’s parent company Der Touristik Group has said it expects to acquire more travel businesses in the next 5-10 years.
The chief executive of the Germany-based group, which now has 16 tour operator brands in Europe and carried 7.1 million customers last year, told ITT delegates the company “is investing in this industry and we don’t want to sell.”
“We are investing in the existing portfolio and we will have even more companies in the next 5-10 years,” said Soren Hartmann. He added that the next five years will see a focus on getting “the right platforms for the future” and bringing senior management together.
Hartmann said the group is likely to focus on more growth in Europe, and in new sectors, before it will look at emerging markets such as China.
“The cruise market is growing so fast, we need to think about this. We have to think about our own hotels. Maybe in the end we will think about China, but not today,” said Hartmann.
In reference to Der Touristik’s acquisition of Kuoni and its sister brands including CV Villas, Kirker and Carrier, Hartmann said he’d been particularly impressed by the Kuoni UK business unit.
“After that acquisition, Kuoni UK was the only thing in the deal where we didn’t change anything. We just gave them more money for more shops,” he said. “Kuoni’s shops in the UK are the best shops I have seen in my life.”
