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TUI bags First Resort

 

TUI UK has bought the majority shareholding in
direct-sell travel agency The First Resort for an undisclosed sum.

TUI – which already had a 20% stake – now owns 97% of
the Manchester-based business.

The First Resort finance director Inam Shah will
become managing director, replacing Nigel David who joins Thomas Cook next
month.

The First Resort sells holidays over the Internet and
the telephone and provides the fulfillment for television travel agency Sky
Travel.  It also has affinity
partnerships with Freeserve, AOL and Ebookers.

It sells more than 100,000
holidays a year, generating over £50 million annually in revenue. It will be
run as a separate business and the 200-plus staff will continue in their
current roles.

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