NEW DELHI- In an apparent coup, barely two-year old destination management company Le Passage to India entered into a joint venture with Europe’s leading integrated tourism group, TUI AG, to address the European leisure and business travel market in India.
TUI Chairman Michael Frenzel said India was a growth market with a great degree of potential and soon the company would look at tapping outbound visitors once acquisition of an outbound company in India comes through in 2006.
“We want to play a leading role here,” said Frenzel.
Le Passage Chief Mentor Arjun Sharma said, “This 50-50 JV provides a huge impetus for promotion of tourism in India as a source market. The JV will give a further thrust to the existing inbound business of Le Passage and envisages a rapid progress of various domestic and outbound products for the Indian traveller.”