JTB acquires Kuoni's GTS to become 'No 1 Global DMC'
JTB Corporation has signed an agreement to acquire all shares of Kuoni Global Travel Services, a move that will strengthen JTB’s inbound business from Asia to Europe.
Kuoni Global Travel Services (GTS) offers destination services, from accommodation, transportation, tours and activities, to venue and event management.
GTS is the number one player in the growing group travel market, handling 50,000 leisure tours per year.
The parties have agreed not to disclose further details regarding the purchase price or their contract.
In 2020, it is predicted that the international visitors to Europe will reach 620 million, an increase of 150 million from 2010. China and Asian markets will drive the growth.
“The acquisition of Kuoni Global Travel Services will offer new business perspectives and opportunity to become the No. 1 global DMC,” JTB said.
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