- Viajes El Corte Inglés and Logitravel have reached an agreement to merge creating a new company that will lead the travel sector.
- The new company, which was launched without debt and with a solid financial position, constitutes a unique solid platform for the development of new businesses and their internationalisation.
- The combined company will improve the customer experience in all areas: leisure travel, corporate travel, as well as the organisation of events, incentives and conferences.
- The people, technology, specialist divisions, leadership in key products and growth in different markets will constitute the pillars of the new group, which aspires to compete with the great world leaders.
Viajes El Corte Inglés and Logitravel have reached an agreement to merge creating a new company which aspires to become a global benchmark in the travel sector. The new company will cover both leisure and business travel, incentives, conferences and events. The transaction is subject to the approval of the CNMC.
As a result of the merger, a leading company in the sector will be established with more than 3,500 million euros in revenue in 2019, a workforce in excess of 5,000 people, more than 500 points of sale around the world and extensive online coverage.
In addition, it will be a benchmark in certain products, such as Disney or Cruises, and will have a strong presence in Spain, Portugal, France, Germany and Latin America. This is the starting point of a company that is created with great ambition and with a roadmap in which new alliances are contemplated that could be added to the project.
The new company, which has been created without debt and with a solid financial position, constitutes a unique platform for the development of new businesses and for the progress in internationalisation. In addition, it will strengthen its position in the Iberian market both in the outgoing and inbound markets. It will also promote new destinations in Latin America, southern Europe and the Mediterranean, and will selectively develop new markets.
All this lead by a management team that will combine the talent of both organizations, will strengthen the people team and will have Jorge Schoenenberger as CEO, who has a history of more than 25 years of experience in the sector.