By Joanna Plucinska
LONDON (Reuters) – Europe’s largest tour operator TUI could look to buy smaller, specialist travel firms in the coming years to expand its global brand, Chief Executive Sebastian Ebel told Reuters on Friday.
“There are a lot of great opportunities outside, of companies which have built a great business but don’t have the right brand,” Ebel said.
TUI is working to broaden its global profile and partner with other airlines for its package deal passengers. Further growth could target Southeast Asia and Eastern Europe as customer demand shifts.
Ebel added that, for the next year or two, TUI still needs to focus on generating cash and reducing debt.
But after that, it could look to work with small specialist businesses, such as wellness programs, ski deals and others, to expand their offering and bring them into the TUI brand.
(Reporting by Joanna Plucinska; Editing by Kirsten Donovan)
