Connect with us

Travel

Certares-led consortium enters into an investment agreement with the FTI Group

Published

on


FTI GROUP partners with Certares-led Consortium to secure €125 million for growth and digital transformation, positioning itself for enhanced profitability in the European tourism sector.

The FTI GROUP, the third largest tour operator in Europe, announces that an agreement has been reached which concludes the process to strengthen the capital and restructure the shareholder base of the Company originally launched in September 2023.

A consortium led by Certares, an investment firm specialized in the travel and tourism sector, with capital provided by co-investors (the “Consortium”), has signed an agreement on the proposed acquisition and funding and will assume control.

Under the terms of the Agreement, FTI will receive new capital of € 125 million to support its next phase of growth and fund digital transformation. The current shareholder has accepted to provide financial support and further investment. The transaction is subject to customary regulatory approvals and other condition precedents as are typical for transactions of this type.

Karl Markgraf

Karl Markgraf, CEO of the FTI Group

Karl Markgraf, CEO of the FTI GROUP, stated: “We are delighted to announce our partnership with the Certares-led Consortium. Certares is a leading investor in the global travel and tourism sector. With support from Certares and its extensive experience in the sector and capital provided by the Consortium, FTI is uniquely positioned for future growth and profitability which benefits all the stakeholders, including our customers, commercial partners and employees. We are committed to start our next chapter of success and to further consolidate our position as a leading player in the German and European tourism sector.”

Who is who

Established in 2012, Certares is a global investment firm focused exclusively on the travel and hospitality industries, leveraging deep sector experience, proprietary transactions and hands-on partnership with management teams to drive growth. With approximately $ 10.1 billion of assets under management, including co-investments, as of 31 December 2023, Certares brings together a team with decades of both operational and investment experience in private equity, travel, tourism, hospitality and travel-related business and consumer services.

Delta, Certares and Knighthead in a strategic partnership

With its numerous brands and subsidiaries, the FTI GROUP is the third largest tour operator in Europe. It includes FTI Touristik as well as the short-term tour operator 5vorFlug, the car rental broker Drive FTI, the destination management company Meeting Point International, which is active in over 40 locations worldwide, and the tour operator for promotional goods BigXtra.

Under the umbrella of the hospitality company MP Hotels, the company bundles its hotel brands Labranda Hotels & Resorts and Design Plus Hotels, Kairaba Hotels & Resorts, Lemon & Soul Hotels, Club Sei and Managed by MP Hotels. TVG Touristik Vertriebsgesellschaft mbH combines the franchise systems with the brands sonnenklar.TV Reisebüro, 5vorFlug and Flugbörse. Around 10,000 partner agencies sell FTI products throughout Germany.

The TV travel shopping channel sonnenklar.TV, an FTI GROUP partner, and the online B2B provider for accommodation Youtravel are also important sales channels. The consolidator FTI Ticketshop is responsible for the sale of scheduled flight tickets. In Austria, FTI Touristik is represented by a branch in Linz.

FTI expects highly successful winter 2023/24

The subsidiary FTI Touristik AG, based in Basel, represents the tour operator in Switzerland. The French tour operator FTI Voyages has been part of the FTI GROUP since 2012. With FTI Reizen, the group has also been active in the Netherlands since 2016. The seven service centres handle numerous bookings for the FTI GROUP and external customers. Headquartered in Munich, the Group employs over 11,000 people worldwide and generated consolidated sales of around € 4.1 billion in the 2022/23 financial year.


Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.






Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Travel

Cirium Launches Air Emissions Methodology

Published

on


Aviation analytics company Cirium has developed a new methodology for measuring aircraft emissions and fuel burn, the company announced Wednesday. 

Dubbed Emerald Sky, the product “integrates Cirium’s data and advanced analytics with a scientific methodology that can provide an independent assessment of forecasted and flown emissions for a specific aircraft on a specific flight,” Cirium chief marketing officer Mike Malek said during a Wednesday media briefing. 

It analyzes each flight’s aircraft type and design specifications, as well as real-time operational data and flight conditions, according to Cirium. It also provides emissions based on the seat in a specific class of service. 

Despite the availability of other emissions calculators, Cirium believes there is a “critical need” for this information. “Airlines and airports need a trusted third-party source,” Malek said. ” Corporations are going to need to comply with ESG reporting requirements. Other stakeholders such as manufacturers, [maintenance, repair and overhaul providers], fuel and energy suppliers, travel buyers and suppliers, and even governments. They’re all getting information from somewhere right now, but their data is all different. And if it’s all different, it can’t be all right.”

Emerald Sky can provide both historical data for up to five years and predictive carbon footprints for the upcoming 12 months, according to Cirium.

When asked whether there would be a cost for travel management companies and corporate buyers to access the data, Malek said Cirium hasn’t decided if it will charge for it yet. 



Source link

Continue Reading

Travel

Newmarket Holidays expands range of safari tours

Published

on




New options include itineraries in Tanzania and Botswana



Source link

Continue Reading

Travel

Demand for Summer travel in Europe recovers, says ForwardKeys

Published

on


ForwardKeys and ETOA predict a robust summer 2024 for European travel, with a shift in preferences toward urban and nature destinations, highlighting London’s popularity due to the Paris Olympics.

ForwardKeys, ETOA’s partner and leading travel intelligence provider, announced its summer outlook for 2024, revealing a robust recovery in demand for summer travel across Europe. This positive trend signifies a full return to pre-pandemic travel levels, with notable shifts in traveller preferences.

ETOA, the European Tourism Association, welcomes this positive news, and is pleased to share this insight with its membership.

London Most Searched Destination Amidst Paris Olympics Buzz

Analysis from ForwardKeys of flight searches from January to April 2024 shows London (5% share of flight searches for travel to Europe) benefits from the greatest relative increase in share of searches for travel in summer 2024 (+1.9 percentage points), driven by the collateral excitement of the Paris Olympics, with easily available transport links to the French capital. Paris itself shows similar popularity (+0.5 percentage points increase), although its share of searches is slightly lower as many visitors to the Games will have planned direct travel further in advance.  Istanbul (+0.4 p.p.), Rome (+0.7 p.p.) and Milan (+0.7 p.p.) gain in relative popularity while destinations in Spain, Greece and Portugal (including Athens, Lisbon, Madrid, Palma de Mallorca) lose ground after enjoying great demand in the post-COVID years – reflecting shifting preferences among European travellers.

chart

However, some destinations are bucking this trend, including Tenerife (+0.41 p.p.) and Izmir (+0.25 p.p.), which are witnessing the largest surge in interest among mid-tier destinations. Growing interest in Northern European cities Reykjavik (+0.21 p.p.) and Munich (+0.15 p.p.) reflects the popularity of destinations with cooler summer temperatures among holidaymakers.  In Eastern Europe, Tirana (+0.07 p.p.), continues to grow in popularity, building on success in recent years, and is joined by Yerevan (+0.03 p.p.) and Tbilisi (+0.09 p.p.) – popular among both European and Russian tourists, due to the combination of natural and cultural heritage available and affordable prices.

Analysis of forward ticketing data for travel to European city destinations in July and August 2024 reveals a shift in consumer preferences towards nature (+19%) and urban (+14%) destinations over traditional sun and beach destinations (+8%). This is reflected at a subregional level as year-on-year growth in international arrivals to Central/Eastern Europe (+25%), Western Europe (+15%) and Northern Europe (+13%) outstrips that to destinations in Southern Europe (+11%).

chart

European Outbound Travellers Focus on Asian Destinations

Outbound travel from Europe is also displaying clear trends, with year-on-year growth in intra-European (+14%) and long-haul travel to a diverse range of Asian markets (+16%). Forward ticket data for July and August indicates that European travellers are increasingly choosing to venture further afield to explore the landscapes and cultures of Beijing (+132%) in particular, as well as Osaka (+66%), Bangkok (+21%), Colombo (+21%), and Kuala Lumpur (+14%). These destinations benefit from various factors, including improved connectivity, visa waivers for Europeans entering China, and the favourable Euro to Yen exchange rate. Moderate growth in demand for US markets Chicago (+14%) and Miami (+9%) is also notable.

chart


Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor’s degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.

She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.






Source link

Continue Reading
Advertisement

Trending

Copyright © 2024 World Daily Info. Powered by Columba Ventures Co. Ltd.