Egypt’s Travco Group Buys Steigenberger Hotels AG
Travco Group bought a 99.6% share of the European hotel chain ,Steigenberger Hotels AG. Travcor Group is a hotel and tour operator based in Egypt that owns 50% of TUI Group, the biggest and most experienced tour operator in Europe. Travcor Group has assets of more than 1.25 billion euros and posted posted consolidated revenues of 600 millon euros in 2009. The company employs 18,000 people.
Steigenberger was established in 1930 and operates 82 hotels with 14,890 rooms and 6,700 professionals. The Steigenberger family was the main shareholder of the corporation until Travcor’s acquisition. A statement issued by the company said a strong international partner will help them achieve their goal of international expansion. Chief Executive of Steigenberger said they want to secure Steigenberger’s future. Andre Witschi said “The international hotel and travel services of Travco enable us to offer our guests a new world of travel destinations.”
More Hotels News
New seaside resort in Qatar
Friday, 07 October 2016
Those of you planning a trip to Qatar may want to check out Qatar’s first leisure destination ...
Amaneesa restaurant reopens for the winter at the Ritz-Carlton, Dubai
Thursday, 06 October 2016
Amaseena, the outdoors restaurant at the Ritz-Carlton, Dubai, is reopening for the winter season ...
Family friendly Hotel Banana Island, Doha
Monday, 26 September 2016
Stay at the five star Banana Island Resort with your children. Only 10 minutes from Doha city ...
Immerse yourself in olives in Mallorca, Spain
Tuesday, 02 August 2016
If you are planning a trip to Mallorca visit the Sóller Valley which has a long history of ...
Ten spas to spoil yourself in
Sunday, 08 May 2016
Fancy a sand based exfoliation, or a rose steam bath, or a honey massage, or a zero gravity ...
Elaf Group's Makkah and Madinah hotels popular at ATM Dubai
Sunday, 01 May 2016
The Elaf Group of Saudi Arabia has revealed its successful participation at the recently ...
Start your Adventure
North & South America