TUI said to launch sale of specialist travel portfolio

Tour operator TUI has reportedly chosen advisors to launch the sale of a portfolio of specialist travel brands in a deal potentially worth up to €600m as it looks to sell its non-core assets.

Reuters cited people close to the matter as saying that TUI has asked Citigroup to find a buyer for the Travelopia unit which comprises over 50 brands offering specialist luxury, adventure and education holidays.

Back in May, TUI announced plans to sell its specialist tour business in order to focus on package holidays and in April, it sold its Hotelbeds Group business in a €1.2bn deal.

At 1535 BST, TUI shares were down 1.7% to 1,057p.