A consortium of investors led by travel and tourism investment firm Certares will invest €125 million as part of an agreement with FTI Group.
FTI Group, which is the third-biggest tour operator in Europe, announced the news Tuesday and shared that the agreement marked the conclusion of its capital strengthening and shareholder base restructuring efforts.
Karl Markgraf, CEO of the FTI Group, expressed excitement about the investment.
“We are delighted to announce our partnership with the Certares-led Consortium. Certares is a leading investor in the global travel and tourism sector,” said Markgraf. “With support from Certares and its extensive experience in the sector and capital provided by the Consortium, FTI is uniquely positioned for future growth and profitability, which benefits all the stakeholders, including our customers, commercial partners and employees.”
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The FTI Group includes a number of brands and subsidiaries such as FTI Touristik, 5vorFlug, Drive FTI, Meeting Point International, BigXtra and hotel brands such as Labranda Hotels & Resorts, Club Sei and several others.
Under the agreement’s terms, FTI Group will use the €125 million to bolster growth and to pay for “digital transformation.”