Kuoni Drops Out of Travel Market

One of Europe’s top five tour operators, Swiss-based Kuoni Travel Group, announced on Wednesday, that is seeking new owners for its tour operations, including Kuoni Travel UK, citing increasing challenges from changing market conditions.

The decision, which includes the group’s tour operations in Switzerland, Benelux, China, India and Scandinavia, affects some 3,800 employees.

Founded 50 years ago, Kuoni Travel UK is a leading operator in worldwide travel, selling holidays to more than 80 destinations across the globe.

Company management reaffirmed that their exit would have no impact on daily operations.

“All units will continue to deliver their expert services to the accustomed standards of quality and reliability,” Kuoni said.

The British unit has 35 Kuoni branded shops throughout the UK.

“We firmly believe that the outbound business can be better developed under new ownership and we’ll be working closely with our colleagues in Switzerland to make sure we find the right buyers,” UK Kuoni managing director Derek Jones said of the decision.