Certares to Fuel FTI Tech Overhaul with Takeover, $130 Million Investment
Skift Take
Key Points
- Certares acquired FTI Group and will invest $130 million for digital transformation.
- The acquisition concludes a restructuring to strengthen FTI's finances.
- FTI Group has signed a memorandum with Saudi Arabia to expand multi-day tours in the Middle East.
Summary
Certares, a travel and tourism investment firm, has led a consortium to acquire FTI Group, the third-largest tour operator in Europe, and plans to invest $130 million into the company's digital transformation and growth. This acquisition concludes a restructuring process started in September to strengthen FTI's finances. Certares, which holds stakes in various travel companies including Hertz, aims to position FTI for exceptional growth. FTI, based in Munich, operates in multiple European markets and recently signed a memorandum of understanding with Saudi Arabia to expand tours in the Middle East.
Certares, a travel and tourism investment firm, led a consortium that acquired FTI Group, the third-largest tour operator in Europe.
This deal ends a restructuring begun in September to strengthen FTI’s finances.
The consortium will own all of the share capital, and FTI will get about $130 million (€125 million) to funnel into its digital transformation and growth.
“Certares’ extensive industry experience and the new capital funding position FTI for exceptional growth,” said Karl Markgraf, CEO of the FTI Group.
Certares holds stakes in a range of travel companies like G Adventures, AmaWaterways and American Express Global Business Travel. The company and another private equity firm also own a majority stake in Hertz and it acquired several hotels in the last year. Certares founder and senior managing director Greg O’Hara became the chair of the World Travel & Tourism Council in November.
Munich-based FTI Group has 120 subsidiaries in German speaking markets, the Netherlands, UK, France, and other destinations.
The group had 6 million customers as of 2022, the latest figures available. The company has also signed a memorandum of understanding to be a launch partner with Saudi Arabia for increased multi-day tours in the Middle East.
Competitors to FTI include the giant TUI Group, DER Touristik, Kuoni, and Hotelplan.
Correction: This article has been updated to note that Certares owns a majority stake in Hertz with another private equity firm. An earlier version of this article also said that Certares owns a stake in Tripadvisor – its stake is in Liberty Tripadvisor.
Photo Caption: Casper Urhammer, CEO of tour operator FTI Group, on stage with Skift Corporate Travel Editor Matthew Parsons at Skift Global Forum East in Dubai Skift
Up Next
The State of Corporate Travel and Expense 2025
How Two Little Letters Made Anguilla into a Hidden Caribbean Goldmine
Remote Year Collapse: What We Know
ChatGPT, Google Gemini, Meta AI: A Frenetic Year With More to Come in 2025
