Accor is buying 65% stake in Frantour; shares surge

Article Abstract:

Accor SA is acquiring a 65% share of Frantour. The deal is part of Accor's plans to increase its nonbusiness travel operations. According to analysts, Accor will have to pay two billion French francs to 2.5 billion French francs ($343 million to $429 million) to acquire the travel group. Frantour manages approximately 30 hotels. The company also has a network of 86 travel agencies.

Comment:

Accor SA acquiring 65% share of Frantour

France, Hotels & Motels, Hotels (except Casino Hotels) and Motels, Abstract, Hotels and motels, Accor S.A., Frantour

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Tour operators suffer as budget airlines soar

Article Abstract:

Major European tour operators such as Germany's TUI AG and Britain's First Choice Holiday PLC are losing business as customers go online to purchase low fare tickets from budget airlines and to arrange their own hotel bookings. TUI is trying to adapt its services to make them more flexible, but is also functioning under pressure of a possible takeover bid.

Europe, Commodity & service prices, Market share, Management dynamics, Air Transportation, Scheduled, And Air Courier Services, Passenger Transportation Arrangement, Industry Overview, Prices and rates, Company acquisition/merger, Airlines, Company business management, Travel, Company market share, Europeans, Airline tickets, Company pricing policy, TUI AG

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Czech travel mogul to sell stake to strategic partner

Article Abstract:

Vaclav Fischer, the Czech travel mogul and senator, will sell a minority share of Fischer Travel, his travel company, to a strategic partner and also retire from politics after his term ends next year. Preussag AG's TUI and Thomas Cook AG are two companies interested in the Fischer stake.

Czech Republic, Travel agencies, HOTELS AND OTHER LODGING PLACES, Hospitality industry, Touristik Union International GmbH und Company KG, Thomas Cook AG, Fischer, Vaclav, Fischer Travel, TSSW

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