Tui Group hints at ‘likely’ Hotelbeds disposal

Tui Group hints at ‘likely’ Hotelbeds disposal

The future of Tui Group’s specialist and activity businesses is secure despite the “likely” disposal of its Hotelbeds brand.

The group’s specialist and activity division brands, which include Hayes & Jarvis, Crystal and Citalia, will be retained and there are no plans to sell them off, confirmed joint chief executive, Peter Long.

Speaking after the group’s full-year results for the year ending September 30, 2015, Long dismissed speculation about the brands’ future, saying: “We are looking to keep and manage these separately, definitely.

“We are not looking at an option in terms of not retaining these businesses within the portfolio. We are very much looking to keep them. They broaden our customer offering and I think that is important.”

This is despite the announcement of a strategic review of its accommodation supplier Hotelbeds in the same division, which Long admitted could result in its sell-off. Bank of America/Merrill Lynch have been authorised to oversee the review.

He said: “We are actioning a review including potential disposal [of Hotelbeds]. While we have not made a final decision at this point the likely outcome is that we will enter a sale process.”

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