Saturday, 28 December 2019

TUI Group sells German holiday home provider Wolters Reisen

Holiday home and tours provider Wolters Reisen sold to Frankfurt-based e-domizil

Tui continues to reduce its dependence on traditional tour operation, increases its focus on its core business with hotels, cruises and destination activities
TUI Group consistently continues its transformation to focus on its core business with hotels, cruises and destination activities. The world’s leading tourism group has sold holiday home and tours specialist Wolters Reisen to Frankfurt-based e-domizil. The parties have agreed not to disclose the purchase price. The purchase contract was signed in Frankfurt. The transaction marks a further step towards a sharpening of TUI’s profile as a vertically integrated tourism group and reduces its dependence on the traditional tour operation business. Wolters Reisen does not leverage any or only very few synergies for TUI’s core business. The sale to the new owner will enhance the company’s prospects for the future and open up additional development potential for its employees.

The closing of the transaction is subject to the necessary approvals by the relevant authorities and is expected for the end of February 2020. Wolters Reisen, based in Dusseldorf and Stuhr near Bremen, employs 250 people. The company is a specialist for holiday homes and tours to Northern Europe. TUI Group had held a stake of 100 per cent through a holding company.

e-domizil is a wholly-owned subsidiary of e-hoi Group, which employs around 350 people in Germany, the Netherlands, Switzerland and Belgium (before the acquisition of Wolters Reisen).  Apart from the holiday home business offered under the e-domizil master brand, the group also operates a cruise business under the e-hoi brand and a round trip business under the e-kolumbus brand. The group continues to be owned by its founders and is managed by CEO Detlev Schäferjohann.

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