Kuoni buys Asian Trails company

The Kuoni Group is continuing its
acquisition strategy in Asia with the purchase of Asian Trails Holding
Ltd, one of the leading destination management companies in Southeast
Asia. Asian Trails, whose operational head office is based in Bangkok, is
active in seven countries. The acquisition underlines Kuoni Group’s
expansion strategy in destination management and further strengthens
its position in Asia.

Kuoni Travel Holding Ltd, one of the world’s leading travel
organizations, will integrate Asian Trails as a separate company into
its Asia & Destination Management business unit. Asian Trails’
four-person management team, headed by Luzi Matzig and the senior
managers Laurent Kuenzle, Jacques Guichandut and Roger Haumueller will
continue to be responsible for the Asian Trails unit and its positive
development. 

Asian Trails will report directly to Rolf Schafroth, Managing Director
Destination Management.

Asian Trails, which has its operational head office in Bangkok, was
founded in 1999. With its 400 employees, Asian Trails is expected to
generate a turnover of approximately USD 60 million (Thai Baht 2.28
Billion) in 2006. All employees continue to work for Asian Trails. The
parties have agreed not to disclose any information about the purchase
price.

Asian Trails CEO Luzi Matzig: “This transaction is very positive for
the future growth of the Asian Trails Group through its synergies with
the worldwide Kuoni Destination Management network and will assure
sustainability for the future, especially in the increasingly
important online area.”

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Rolf Schafroth, Managing Director Destination Management at Kuoni,
emphasized: “Kuoni is already very well established in Asia. With this
acquisition, which fits our strategy perfectly, we can add to our
strong sales presence in destination management in Southeast Asia by
entering the fast growing inbound market.”

The acquisition is being announced today in Zurich and at a press
conference in Bangkok attended by Reto Wilhelm, Kuoni Group’s
Executive Vice-President Europe, Asia & Destination Management. “Kuoni
is consistently pursuing its expansion strategy through targeted
acquisitions. Southeast Asia is a very important area for us, and with
this acquisition we can significantly strengthen our position in this
region,” said Reto Wilhelm.
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