Travel giant TUI and German-speaking tour operator Bentour, a Turkish-owned tour operator, have entered into a major transaction. Specifically, TUI Group acquires a 20% stake in Bentour Reisen AG, based in Zurich, Switzerland, which operates in all German-speaking markets, while Bentour acquires a 20% stake in Nazar Nordic AB, a subsidiary of TUI.
Both Nazar and Bentour Reisen offer high-quality holiday products with a focus on all-inclusive trips to Türkiye and Greece. However, they operate in different markets and clients.
Bentour Reisen is active in the German-speaking markets of Austria, Switzerland and Germany, while Nazar concentrates on the customer and source markets of Denmark, Norway, Sweden and Finland.
The agreements were signed today. The transaction is subject to approval by the antitrust authorities.
Despite the investments in equity, all parties stress that this is not a merger. Both companies will remain independent, retaining their respective brands, management structures and corporate culture. The agreement aims at a strategic convergence without operational consolidation.
‘We are excited about this mutual involvement,’ says Deniz Ugur, CEO of Bentour Reisen, adding: “This mutual trust makes us incredibly proud. Bentour Reisen and TUI are joining forces. As an owner-managed company, we remain true to our guests’ sense of holiday, preserving our brand and culture while opening an inspiring new chapter full of passion for high quality travel.”
TUI Group
TUI Group is one of the world’s leading tourism groups and operates worldwide. The Group is headquartered in Germany. TUI’s shares are listed on the MDAX index of the Frankfurt Stock Exchange and on the regulated market of the Lower Saxony Stock Exchange in Hanover. TUI Group offers its more than 20 million customers comprehensive services from a single source and forms the entire tourism value chain under one roof.
The Group operates over 400 hotels and resorts with premium brands such as RIU, TUI Blue and Robinson and 18 cruise ships, ranging from MS Europa and MS Europa 2 in the luxury class and expedition ships in the HANSEATIC class to TUI Cruises’ Mein Schiff fleet and cruise ships operated by Marella Cruises in the UK.
The Group also includes Europe’s leading travel agency brands and online marketing platforms, for example for hotel-only or flight-only offers, five airlines with 125 modern medium and long-haul aircraft and around 1,200 travel agencies. In addition to expanding its core hotel and cruise businesses through successful joint ventures and activities in holiday destinations, TUI is increasingly focusing on expanding its digital platforms. The Group is becoming a global tourism platform company.
Global responsibility for sustainable economic, environmental and social action is at the heart of our corporate culture. With projects in 25 countries, the TUI Care Foundation, launched by TUI, focuses on the positive impact of tourism, education and training and the strengthening of environmental and social standards. In doing so, it supports the development of holiday destinations. The globally active TUI Care Foundation initiates projects that create new opportunities for the next generation.
