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January 14, 2015
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UK: Kuoni to Refocus on Business Travel in Restructure




Kuoni is to offload its UK tour operating business as the group seeks to focus on business travel.

The Swiss-owned company announced that new owners are being sought for its tour operating activities, including the UK base in Surrey, plus Kuoni Switzerland, Benelux, Hong Kong/China and India as well as operations in Scandinavia/Finland. 

In October, Kuoni Travel, which operates 30 outlets in the UK, reported a loss after tax of £4.6 million for 2013, compared with its £10.6m loss in 2012, due to continued write-off of goodwill following the costly acquisition of luxury holiday brand Journeys of Distinction. 

Kuoni will now focus on its business travel operations, such as its destination management services, in markets including Asia, the Middle East and Africa. 

A statement said: “The objective is to position Kuoni in markets where it has leading positions, a clear competitive advantage and can create superior shareholder value.

Read more at MeetPie.com...
 


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