JTB announced on May 30 that the Japan’s largest travel company has decided to purchase Kuoni Global Travel Service (GTS) through stock transfer. Purchase conditions are not disclosed. Switzerland-based Kuoni GTS, a B2B company with business strengths for leisure, corporate and MICE travels, earns about 60% of the total sales from Asia.
With the purchase, JTB aims to expand its inbound travel business from Asia to Europe and to enrich products from Europe to Japan particularly for FIT. Also, higher quality MICE business is expected to be developed. Through the business approaches, JTB is stepping forward for its goal to become the world’s No.1 Destination Management Company (DMC).
GTS is a member of Kuoni Group with 1,400 employees and annual sales of 589 million Euros (about 70.5 billion yen). Even since Swedish investor EQT acquired all stocks of Kuoni Group in May last year, it has been doing its business independently. GTS will continue business partnerships with other travel companies than JTB even after the stock transfer to JTB.