Breaking news today of the tie up between TUI and Russian tycoon Alexei Mordashov to ease the brand into the ever growing Russian marketplace...
Breakingtravelnews.com report that TUI AG has confirmed it will move into the Russian travel market, as a part of a new $60 million joint venture with billionaire Alexei Mordashov.
In partnership with Mr Mordashov’s S-Group, the German travel giant will establish 200 owned and franchised travel agencies in Russia and Ukraine over the next three years.
The venture will control up to ten per cent of the Russian travel market by 2013, according to TUI, with over twenty holiday destinations on offer.
Destinations on offer will include trips to Cyprus, a first for the Russian market.
“Today, Russia is one of the top growth markets for travel,” explained Michael Frenzel, TUI’s chief executive officer.
“Russian consumers are becoming more and more sophisticated and selective.”
TUI AG expects Russia to become Europe’s fourth-largest travel market by 2020, Mr Frenzel confirmed..."
It is good to see that despite the global financial crisis, it is still possible to keep developing within the tourism industry, and to keep looking for a brighter future...
For more on this story, please go to http://www.breakingtravelnews.com/news/article/tui-expands-into-russia-with-joint-venture/
Barticus.
Thank you for the Twitt.
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