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Moving forwards Youtravel.com will be focused purely on B2B activities

FTI Group acquires Youtravel Group

The FTI Group acquired (for an unspecified sum) 85% of the shares of Stelow Ltd, the holding company of Youtravel.com Ltd, London. The transaction was executed with the qualifying date of 1st of April 2012. Aquis Hotels & Resorts is not included in the transaction and remains with Ioannis John Kent. Dietmar Gunz, CEO of the FTI Group, commented: “This decision marks an
important step in the expansion of our international sales activities and Youtravel.com Ltd provides the opportunity to participate in the fast growing online travel market. Ioannis John Kent, the founder of Youtravel.com, will remain as CEO of the company and brings the benefit of his long experience and profound knowledge of the travel sector to FTI.”

Youtravel.com will be integrated with immediate effect into FTI’s 24/7 global quality operation. Through ‘Meeting Point International’, FTI’s Destination Management Company (DMC), Youtravel.com will gain direct access to new, high-quality hotels. The current 20 Meeting Point agencies work independently of the group’s headquarter, conduct negotiations and negotiate contracts directly with hotels in the destinations. “We now have the opportunity to significantly increase our portfolio with high-quality, exclusive products across the globe”, commented Ioannis John Kent, CEO of Youtravel.com Ltd. “I’m looking forward to the partnership with the FTI Group which is also a very positive signal to our suppliers, and loyal agents, who in the past already believed in us,” he added.

To strengthen the management team, Anne Roesener, will join the Board of Directors of Youtravel.com in London and will steer the business from FTI’s side. In August 2012 she will join the Board of Directors of the FTI Group. Previously Roesener was Vice President Central Europe and Nordics at Sabre Travel Network EMEA and was among other things responsible for building up the online sector. Karlheinz Jungbeck, the CFO of the FTI Group, will be member of the Board of Directors of Stelow Ltd. “For us it is really important to have a strong management team in place and to make sure that Youtravel can work on a safe and reliable financial base in the future”, says Karlheinz Jungbeck. “With Youtravel.com we have a great opportunity to play a significant role in the global online travel markets.”

Moving forwards Youtravel.com will be focused purely on B2B activities. “This is where Youtravel.com has had its biggest success”, commented Roesener. “The B2C business will be dissolved and we will concentrate on enhancing and developing powerful systems to fulfil the requirements of our distribution partners.”

The Youtravel Group was launched in October 2006 by travel entrepreneur Ioannis John Kent and has established its position as a leader in the accommodation-only sector. It is an international company with eight operations in Europe. Through the online portal www.youhotels.com the company sells 4,000 hotels, apartments and private residences worldwide, mainly to travel agencies and tour operators in Great Britain.

End customers can use the portal www.youtravel.com to look for their holiday accommodation. “It is our goal to open new international markets for youtravel.com and to expand the global activities”, commented Roesener. In the fiscal year 2010/2011 the Youtravel Group generated revenue of 95 Million Euros.

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Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.

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