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TUI AG (trading as TUI Group) is a German multinational leisure, travel and tourism company; it is the largest such company in the world. [ 2 ] [ 3 ] TUI is an acronym for Touristik Union International ("Tourism Union International").
TUI Airways has its origins in several rival airlines. Euravia (later renamed Britannia Airways in December 1964 [6]) was founded in January 1962. [7] Orion Airways, founded in 1979 by Horizon Holidays and later owned by the large brewing firm Bass Brewery and InterContinental Hotels Group, was sold and merged with Britannia Airways in 1989 but retained the Britannia name.
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The company's business is focused on the holiday hotel sector and over 70% of its establishments offer an all-inclusive service. As of 2014, it was the 30th largest hotel chain in the world. [ 4 ] As of 2020, it had 98 locations in 19 countries, 31,270 employees, and 4.9 million customers.
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A merger in 2014 between TUI Travel PLC and TUI AG led to the creation of the TUI Group. TUI Travel A&D changed its name to Hotelbeds Group and subsequently to Hotelbeds. [3] Hotelbeds was acquired by Cinven and CPPIB in 2016, [4] [5] [6] In 2017, Tourico Holidays and GTA Travel were purchased and integrated in 2018. [7]
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