11/08/2019 16:19

TUI Is Negotiating With CAPITAL TOUR

The issue that at the moment generates the greatest interest behind the scenes of travel market is the strengthening of investment activity of German Travel Concerns in the Russian market. The negotiations with Russian tour operators have been held for the several years. On July 12th Vedomosti published information about the possible purchase of share of CAPITAL TOUR by TUI. How much are we talking about? – not less than $20, 000 000. Meanwhile, experts from big tour operating companies are skeptical towards the information about TUI negotiations with CAPITAL TOUR owners. Thus, Vladimir Vorobiev, President of Natalie Tours, said: ‘On the one hand the situation was predictable as the company was established for resale and the market knew this. On the other hand, what is happening is a motivated leak of information that is confirmed by either of parties. Moreover, the information appeared right before August, when the volume of payments to hotels increases. Therefore, leak of such information about potential deals allows justifying credit indebtedness’. Furthermore, General Director of TEZ TOUR was less skeptical towards the deal however he doubted the success of the negotiations: ‘TUI negotiated with many companies. It is not clear what to buy in Russian travel companies and Germans do not invest in nothing’. Meanwhile, there is an alternative attitude towards the situation. CAPITAL TOUR work with a wide range of destinations, that adds to the assortment of the joint venture created in 2004 by TUI and Mostravel (TMR). Moreover, CAPITAL TOUR has offices in Russian towns and in the capitals of several neighboring countries (14 offices) that is a serious advantage considering the toughening of competition between the leading tour operating companies in the Russian market.