Tui is sharpening its focus in its long-term partnership with Riu: In the future, the collaboration will be geared more clearly to brand, hotel management and sales. 

As part of this focus, the Riu family takes over the Tui minority shares in a previously jointly held property portfolio with 19 existing properties and two under construction. The core of the long-term strategic hotel partnership continues to be the 50:50 joint venture with 100 hotels and resorts worldwide. This joint company will continue to manage and distribute all RIU hotels and resorts worldwide - including the 21 properties that will be fully owned by the Riu family in the future.

Tui is thus strengthening the core business with holiday experiences - and in particular the development, operation and marketing of hotel and holiday brands. The group wants to grow primarily with its international hotel brands Tui Blue, RIU, Robinson, Tui Magic Life and the management of these hotels, although in the future it will tie up less capital in land and its own real estate. The company had already initiated this so-called “asset right” strategy in December 2019 before Corona. The aim is to decouple growth in hotels and cruise ships from investments.

The TUI AG Supervisory Board approved this real estate transaction today. It has a total volume of 670 million euros - an extremely attractive valuation was agreed for the portfolio of 19 properties and two properties under construction. The proceeds are to be used to reduce the corona debt of the group.

“We are separating hotel management and the holiday experience from property ownership, as we announced at the end of 2019. This is a business model that has proven successful in the international city hotel sector. With the takeover of our shares in the 21 real estate properties by the Riu family, we are releasing tied-up capital, at the same time strengthening our core business and concentrating on global hotel management with our RIU joint venture ”, says Peter Krüger, as director of strategy and M&A for the hotel - Holdings of the Tui Group responsible.