TUI Group

History

TUI Group is a German travel company headquartered in Hanover, Lower Saxony, Germany. Until 2002, the company was engaged in industry and transportation, but in the mid-1990s, it decided to change its direction of activities to focus on tourism and shipping.

The company's history dates back to December 1, 1968, when Touristik Union International (TUI) was established by an association of four tour operators in Germany. The oldest of them, Dr. Tigges-Fahrten, was founded in 1928 and specialized in tours to Mallorca; the second, Touropa, began in 1948, organizing cruises in the Mediterranean; two more travel agencies were founded in 1953.

In the following years, several major travel and transportation companies joined the union. In 1969, the number of TUI customers increased by 1 million. In 1970, airtours international, the largest tour operator in Germany at that time, joined the union. In 1972, TransEuropa and in 1976, NUR Touristik also joined.

Transformation to Tourism Focus

Originally, TUI was an industrial and transport group called Preussag AG. However, in the mid-1990s, the company decided to invest in tourism by liquidating its industrial activities and acquiring travel agencies, such as the French Nouvelles Frontières.

Structure and Operations

Today, TUI Group is one of the largest companies in the tourism sector worldwide, present throughout the European Union (EU). The group operates through various subsidiaries, including:

* Travel agencies
* Receiving agencies
* Hotels
* Airlines
* Cruise ships
* Tour operators

TUI also has a significant presence in shipping, with container carriers ranking among the top 5 globally.

Ownership and Shareholders

The company is owned by several major shareholders, including:

* The Riu family, owners of the hotel chain Iberotel and RIU, hold a 5.1% stake.
* The CAM (Mediterranean Savings Fund) holds a 5% stake.
* The Matutes family also has an important package of shares.

Notable Events

On March 19, 2007, TUI announced the merger of its tour operating business with that of First Choice Holidays.