Tour Operator Financials News

W&O confirms sale of travel division

W&O confirms sale of travel division

18th Mar 2011 Press Release Organisations & Operators

Luxury travel specialist Western & Oriental has issued a statement confirming the sale of its travel division. The group of travel companies owned by Western & Oriental, including W&O Travel and Regent Holidays, will be bought by Furze International.

Cost-cutting helps Kuoni narrow losses

Cost-cutting helps Kuoni narrow losses

A programme of cost cutting has helped luxury tour operator Kuoni reduce first-half losses to £23 million from £30 million in 2009 despite sales remaining “muted” due to the European debt crisis, the volcanic ash cloud and political voilence in Thailand.

Club Med eyes China expansion

Club Med eyes China expansion

Fosun, China’s largest privately-owned conglomerate, has bought a 7 percent stake in Club Med for around €23m. The deal comes as part of the French all-inclusive specialist’s shift into new markets as it reduces its dependence on stagnating European source markets.

Redknapps give Thomas Cook a summer lift

Redknapps give Thomas Cook a summer lift

11th Feb 2010

The success of a TV campaign featuring the former footballer Jamie Redknapp and his wife Louise, the former pop star, has helped lift Thomas Cook’s summer sales during the peak January booking period. Meanwhile pre-tax losses for the quarter ending 31 December narrowed to £81.5m from £112m year-on-year.

TUI losses double but demand picking up

TUI losses double but demand picking up

Europe’s largest tour operator, TUI Travel, has reported a doubling of net quarterly losses to £124 million due to planned capacity reductions and tougher trading. But strong demand for holidays this summer has led to rising prices and an improved outlook.

Kuoni feels the pinch

Kuoni feels the pinch

The financial crisis, currency upheavals and swine flu have taken their toll on upmarket operator Kuoni. Sales in the first nine months of its financial year fell by more than 21 per cent to SFr2.98bn ($2.91bn), prompting a SFr5.7m loss, compared with a SFr126m profit last time.