Friedrich Joussen, currently CEO of TUI AG, was talking to investors and analysts this morning, ostensibly about the latest stage in the plans to merge (UK-listed) TUI Travel with (German-listed) TUI AG to create "the world's number one integrated leisure tourism business."
Currently TUI Travel has two units "accommodations and destinations" and "specialist and activity" which sit outside its mainstream tourism business. Under plans for the merger, the "destinations" part of the pie will be transferred into the mainstream, leaving the other parts to "be run separately to maximise growth and value".
Joussen notes that "some of the OTAs are leading businesses, like Laterooms in the UK which is number two, a very healthy business".
