Launched last year in partnership with Luxembourg-based asset manager Hansainvest, the fund is designed to help Tui buy and operate properties not yet part of the group.
After a successful phase of capital raising, the fund was recently used to purchase a new five-star resort in Zanzibar, the Emerald Zanzibar Resort & Spa, for an undisclosed sum. The resort – which opened in December –will be operated by Tui’s in-house hotel division starting early next year, with Tui taking over any existing bookings for the resort.
“The fund is equipped with initial funds and is operational,” said Tui board member Peter Krueger on Tuesday (8 August). “Now we are moving into the investment phase, as the fund has the means to purchase further hotels.”
In recent years, Tui’s hotel division has become one of its key growth drivers, generating positive results over several quarters. In the past year, the company has acquired 32 new properties, and reported higher profit margins from these compared to pre-Covid levels.
“Profitable growth is the focus of our strategy for the future,” Krueger added. “Our own hotel and club brands make a significant contribution to growth and the company earnings and offer our guests exclusive products.”
The announcement comes as the company prepares to reveal its third-quarter results on Wednesday (9 August), and after confirming the launch of its accommodation-only platform in the UK and Ireland.
