TUI is expanding its portfolio on the East African island of Zanzibar with a new property, due to open next year.
The five-star Emerald Zanzibar Resort & Spa has been bought by a fund set up by TUI and a Luxembourg-based investor, to expand its Hotels & Resorts division.
The property will be operated by TUI Hotels & Resorts from the beginning of 2024 and all bookings already made by guests will be taken over by TUI.
The Emerald Zanzibar will be the fourth property on the island offered by TUI, in addition to TUI Blue Bahari Zanzibar, RIU Palace Zanzibar and the RIU Jambo.
The purchase price has not been disclosed.
TUI AG Executive Board member responsible for Group Strategy and M&A Peter Krueger said the fund, in partnership with Hansainvest, is already looking for more investment opportunities.
He said: “Profitable growth is the focus of our strategy for the future.
“Our own hotel and club brands make a significant contribution to growth and the company earnings and offer our guests exclusive products.
“We initiated the hotel fund with the aim of further expanding our successful hotel portfolio and increasing the earnings of the segment, while at the same time being able to offer professional investors an attractive hotel property investment.
“We have succeeded in doing this well, the fund is equipped with initial funds and is operational. Now we are moving into the first investment phase.
“The fund has the means to purchase further hotels. The next concrete investment opportunities are already being pursued.”
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The five-star Emerald Zanzibar Resort & Spa has been bought by a fund set up by TUI and a Luxembourg-based investor, to expand its Hotels & Resorts division.
The property will be operated by TUI Hotels & Resorts from the beginning of 2024 and all bookings already made by guests will be taken over by TUI.
The Emerald Zanzibar will be the fourth property on the island offered by TUI, in addition to TUI Blue Bahari Zanzibar, RIU Palace Zanzibar and the RIU Jambo.
The purchase price has not been disclosed.
TUI AG Executive Board member responsible for Group Strategy and M&A Peter Krueger said the fund, in partnership with Hansainvest, is already looking for more investment opportunities.
He said: “Profitable growth is the focus of our strategy for the future.
“Our own hotel and club brands make a significant contribution to growth and the company earnings and offer our guests exclusive products.
“We initiated the hotel fund with the aim of further expanding our successful hotel portfolio and increasing the earnings of the segment, while at the same time being able to offer professional investors an attractive hotel property investment.
“We have succeeded in doing this well, the fund is equipped with initial funds and is operational. Now we are moving into the first investment phase.
“The fund has the means to purchase further hotels. The next concrete investment opportunities are already being pursued.”
The post TUI to open new all-inclusive on Zanzibar appeared first on Travel Gossip.
Continue reading...
