TUI enters India's outbound travel biz.
Economic Times (New Delhi, India), January, 2006
Byline: Sudipto Dey
Jan. 19--NEW DELHI -- European travel major TUI AG is making a foray into outbound travel business in India. TUI AG's Indian joint venture, Le Passage to India, has bought out Select Vacations, which specialises in organising leisure and incentive tours abroad, to tap the burgeoning outbound tourist traffic from the country.
Though confirming the deal, Arjun Sharma, managing director, Le Passage to India, refused to give financial details. Le Passage is a 50:50 joint venture between TUI AG and Mr Sharma, and is among the top three in-bound tour operators in the country.
Plans are afoot to ramp-up the reach and presence of Select Vacations in markets in North and Western India over the next one year, with an investment to...
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