Travel Agent NewsDeal with GTS drives growth into Europe

JTB to become ‘No 1 Global DMC’ after Kuoni deal

By
|
Photo Credit: iStock

Kuoni Global Travel Services (GTS) offers destination services, from accommodation, transportation, tours and activities, to venue and event management. 

JTB Corporation has signed off an agreement to acquire all shares of Kuoni Global Travel Services, a move that will strengthen JTB’s inbound business from Asia to Europe.

Kuoni Global Travel Services (GTS) offers destination services, from accommodation, transportation, tours and activities, to venue and event management. 

GTS is the number one player in the growing group travel market, handling 50,000 leisure tours per year.

Reto Wilhelm, CEO of Kuoni Global Travel Services, said, “JTB is one of the biggest and most respected market players in our industry. Joining JTB provides our company with the best-positioned owner, which will help us realise the full potential of Kuoni Global Travel Services. 

“We will be able to further enhance our service and products for customers, while creating scale and efficiency.”

The parties have agreed not to disclose further details regarding the purchase price or their contract.

JTB has been expanding the inbound travel business to Europe under the slogan “Departing Globally, Arriving Globally”.

In addition to the Japan market, JTB has enhanced the outbound travel business from growing markets where a large volume of people flow is expected.

In 2020, it is predicted that the international visitors to Europe will reach 620 million, an increase of 150 million from 2010. China and Asian markets will drive the growth.

JTB said in a statement the acquisition offered an excellent opportunity to be a unique operator in Europe by gathering network and knowledge. 

“The acquisition of Kuoni Global Travel Services will offer new business perspectives and opportunity to become the No. 1 global DMC,” JTB said. 

“This will increase new opportunities in areas such as group business in growing markets across the world through the expansion of local product offerings.

“It will also support the expansion and strengthening of the global MICE services in Europe and the United States markets, which is complementary to the existing JTB MICE business,” JTB added.

The acquisition is subject to approval by the relevant competition authorities. 

GTS has run its business activities independently since the Kuoni Group was taken over by private equity company EQT in May 2016.


JDS Travel News JDS Viewpoints JDS Africa/MI