News Flash

TMI wins the representation of Tourism Flanders

After competing in a tender in December 2011, TMI has been awarded the representation of Tourism Flanders and Brussels in the Russian market. The Account Manager is Maria Gorbacheva. In 2011, Flanders and Brussels generated 162,965 overnights by the Russian tourists, which was 29% more than in 2010. In terms of arrivals, Flanders and Brussels registered 80,700 Russian arrivals, a 27.5 increase on last year.

Hotelplan sells its stakes of Ascent Travel

Hotelplan, the Swiss international tour operator which entered the Russian market in 2007 by purchasing 51% of the shares of Ascent Travel, announced its departure from the Russian market. Ascent had a turnover of EUR 62 Million (up 15.5%) and an EBIT of EUR -9.7 Million (a EUR 5.3 Million decline). Hotelplan noted that the Russian market remains a difficult business market and this is the main reason for the sale of their majority stake in Ascent Travel over the next 2 years.