11/08/2019 16:19

What Kuoni Is Looking For?

[IMG=20427-6169]The issue that generates the great interest behind the scenes of the Russian travel market is that the Swiss company Kuoni allegedly intends to establish a joint venture with one of the Russian tour operating companies and is looking for a potential partner at the moment. However, the information was not confirmed by TMI Consultancy which represents Kuoni in Russia. Moreover, Miroslav Bauer, Kuoni Vice President, Sales Europe & USA, did not confirm the information: ’I have no information regarding buying a Russian tour operator. I assume it is rumors’. Meanwhile, it is not a surprise that such information appeared in the market. On the one hand, the other foreign company – TUI - is interested in partnership in the Russian market (http://www.tourdom.ru/static/100/2006/07/12/3_20425.html ). Why not Kuoni follows the same scenario? On the other hand, despite Kuoni has never announced such intentions, they mentioned the possibility of strengthening company’s positions in the Russian market, 'if business progresses in the country'. Furthermore, Russian travel market experts point out that Kuoni might be interested in merger with either a multi-product company, like Kuoni itself, or an incoming company. The second version is more popular in the market. Thus, Maxim Pristavko, Commercial Director of Jet Travel, commented as follows: ‘it is a tradition that Kuoni buys local incoming companies in order to develop incoming business. Indian SITA, which is a part of the Swiss holding company at the moment can be an example’. Russian travel market professionals believe Kuoni is attracted by the potential of the Russian incoming tourism. Dmitry Fesik, General Director of UTE Megapolus Group, stated: ‘Investments into a multi-product company have a shorter pay-back period, but the potential of Russian resorts is great. Probably, the Swiss company banks on the development of incoming tourism in Russia. In future this project will return a profit’.