Musement will sit within the TUI's Destination Experiences division - a part considered a "growth area" within the group. TUI Group CEO Fritz Joussen: "The global market for these services is growing and offers considerable potential for TUI” The TUI Group is planning to continue to grow with customised services and offers of leisure activities at the holiday destinations.
The move comes as part of a sale that began in December 2019 when Germany-based E-Domizil, a travel aggregator, acquired Wolters Reisen from TUI Group for an undisclosed fee..
TUI has bought Hotelbeds’ Destination Management unit for €110 million, less than two years after selling the entire Hotelbeds Group, including the large B2B bedbank business, to financial investors for €1.2 billion. OYO Vacation Homes is showing no signs of scaling back its European ambitions with an acquisition disclosed that will add 17,000 properties to its portfolio.. The German-based tourism group has decided that destination services will be one of its strategic growth areas in future. TUI Group becomes the world’s leading provider of services and leisure activities at holiday destinations. To strengthen its position in the excursions, tours and activities business, TUI Group has acquired the Italian tech start-up, Musement. This will also include services for cruise ships in the ports. TUI GROUP : Acquisition of Destination Management from Hotelbeds Group. Following the takeover, the Spanish TUI subsidiary will have sales of 700 million Euros, 9,000 employees, and will be present in 48 countries. Musement, the global tours and attractions discovery service and one of the major Italian digital companies, has today announced the acquisition by the German giant TUI Group.
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