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TUI cancels flights to over 25 popular holiday destinations
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TUI forced to cancel flights to more than 25 popular holiday destinations
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2 hours ago
The Riu family has taken complete ownership of the Riu Hotels & Resorts brand in a deal with TUI Group.
The holiday giant had held 49 per cent of the company, but has sold its share for €670 million as it looks to reduce debts built up during the Covid-19 pandemic.
Riu Hotels & Resorts has a portfolio of 19 hotels, with two properties in development.
Riu and TUI continue to have a 50:50 joint venture, with 100 hotels and resorts worldwide.
This joint venture will continue to manage and distribute all Riu hotels – including the 21 properties that will be fully owned by the Riu family.