Kuoni confirmed its withdrawal from tour operating in Italy with the disposal of its loss-making business in the country for an undisclosed sum.
Italian company RS Holdings has taken over tour operations run under the Kuoni and Best Tours brands.
All staff are being taken on by the new owner. Kuoni’s Italian GTA division is not part of the sale.
The Swiss-based group said: “Italy is one of the loss-making European tour operating activities that Kuoni announced it would be withdrawing from on September 21, 2012.”
The cost of exiting five markets and the consumer-facing online hotel platform remain at around 80 million Swiss francs, as previously calculated, the company added.