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TUI takes majority stake in The First Resort
TUI UK has strengthened its direct sell interests by buying most of the shares in Manchester based The First Resort for an undisclosed amount.
It already owned 20% of the direct travel agency which it helped found with netdecisions in 2000.
The First Resort sells holidays over the web and the phone and is also involved with interactive TV, where it works closely with Sky Travel.
TUI communications director Sonia Davies told TravelMole: “It is a good business that we have been involved with since it started, and it has good relations with Sky Travel. There is a huge potential in interactive TV to sell travel.” TUI UK’s only other interests in interactive TV are some ties with TV Travel Shop.
TUI said it will continue to run The First Resort as a separate business, reporting to direct channels director Miles Morgan. TUI UK’s other direct sell interests include Team Lincoln, trading as latedeals.com and skideals.com; web flight site Skydeals and Teletext holidays specialist Travel House.
TUI UK managing director Chris Mottershead said: “The First Resort is a terrific business with great potential because of its expertise in the growing areas of TV and affinity. Netdecisions has been a great partner for the past three years, in particular introducing affinity partners including Sky Travel which has enormous potential because of the power of the Sky brand.”
Inam Shah, finance director of The First Resort who has been with the business since it was founded will become managing director with current md Nigel David leaving to join Thomas Cook. Mr David joins Thomas Cook on 4 August as managing director of product.
TUI added that the 200 plus staff in Manchester “will continue in their current roles and there are no plans to make any significant changes.“
Read our previous stories:
01-July-2003 TUI relaunches budgetholidays.com
18-July-2003 TUI looks to late bookers to fuel recovery
23-May-2003 TUI positive despite Q1 results
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