A lack of synergy
The German group TUI is currently present on all tourism markets, as a tour operator, hotel operator, air operator and cruise ship owner. Since last year, it has begun to refocus on basic tourism activities. Its subsidiary Specialist Group, which groups adventure tourism activities, including the boat rental affects a specific clientele, different from mass tourism. Fritz Joussen, CEO of TUI states:"There is little vertical synergy with TUI's core business, and that is why the sale of the entire subsidiary is the most attractive option for the group's shareholders".
No impact on summer rentals
If the announcement of the sale takes place in May, the transaction is not expected to be finalised before autumn 2016. Scott Farquharson, Sunsail's manager, says the day-to-day work of the staff will not be impacted in the short term. He reminded that Sunsail and The Moorings are still part of the TUI group until further notice and that all bookings will therefore be honoured.
An opportunity for development
Still for Scott Farquharson, the sale is an opportunity for his leasing companies. Indeed, these were not a priority for the group. He sees this as an opportunity to continue expanding the rental fleet with a new investor.