SUMMARY – TUI GROUP EXPANDS IN-HOUSE HOTELS WITH EMERALD ZANZIBAR RESORT ACQUISITION VIA GLOBAL FUND. IT WILL ENSURE PROFITABLE GROWTH AND ATTRACTIVE PROPERTY INVESTMENT OPPORTUNITIES.
Tui Group has acquired the all-inclusive Emerald Zanzibar Resort & Spa in Tanzania, in line with its strategy to grow its in-house hotel offerings.
The undisclosed purchase was facilitated through a global hotel fund, established in collaboration with a Luxembourg-based investment firm.
Starting from early 2024, Tui Hotels & Resorts will take over operations, including existing bookings at the resort.
This new addition of Emerald Zanzibar Resort brings Tui Group’s total hotel count on the East African island to four.
The Emerald Zanzibar Resort fund’s future plans include the acquisition of another hotel from Tui’s portfolio. That will use the sales proceeds to further fuel expansion.
In this financial year, Tui Group has added 32 properties in its portfolio, few of which operate under the Tui Blue brand.
Peter Krueger, Tui Group’s executive board member for strategy and mergers and acquisitions, emphasizes their focus on profitable growth through their hotel brands.
Krueger also notes the positive contribution of their hotel brands to growth, earnings, and guest satisfaction.
The initiation of the hotel fund aligns with Tui’s goal to enlarge its hotel collection while providing attractive property investment opportunities for professional investors.
With the fund operational and well-funded, Tui Group is now entering its initial investment phase. It is actively seeking new hotel opportunities to expand its portfolio.