Airtour is the most profitable “destination management company” in Greece. It is based in Athens, has an extensive network of travel agencies in Greece and represents the biggest German tour operator, TUI, as well as the French tour operator, Jet Tours. Its main services presently include transfers, contracts with hotels, excursions, flight arrangements and car rentals, while in the immediate future it plans to expand in other service areas, such as the organisation of incentive and conference tours and the management of hotels. Our firm was commissioned to assist Airtour in its reorganisation in view of the needs created by the installation of a new EDP system in the company. Our work focused on the evaluation of current practices and internal communication channels (reporting lines, document and information flows), benchmarking of selected TUI operations and client service needs identification. Deliverables also included the preparation of process charts of service areas and functions as well as our recommendations for a new organisation structure including our proposed organisation chart, reporting lines and job descriptions for the Airtour staff.
We carried out a feasibility study to assess the potential of TUI Hellas applying for a listing to the parallel market of the Athens Stock Exchange. The company is a subsidiary of TUI GROUP, the largest tour operator in Europe. We analysed the Greek tourism market as well as the future trends and the competitive positioning of the company in this market. In this report we also presented the twenty largest tour operators & travel agencies in Europe. Based on this information, we assessed the advantages and disadvantages for listing in the Athens Stock Exchange and the steps that the company should follow in order to apply for this listing in the near future.
On behalf of Japan Travel Bureau (Greece), Deloitte & Touche performed the valuation of the company in view of the acquisition of 40% of its shares from Hellenic Tours SA. Japan Travel Bureau (Greece) is based in Athens and represents the biggest tour operator in Japan, the Japan Travel Bureau Group. In the first years of operation, it co-operated with Hellenic Tours SA, one of the biggest travel agencies in Greece and representative of the biggest Swiss Tour Operator (Kuoni) in Greece.
Review of system of internal controls
Traveland Kos is a company representing some of the biggest tour operators on the island of Kos. It is also involved in transfers and excursions. We were appointed to carry out a review of its system of internal control and also prepare a management information system for the company. This was a pilot project for the group that owns Traveland Kos and which has further interests in Rhodes, Crete and Corfu.
Argo Tours is a company representing the biggest German and Scandinavian tour operators in Rhodes. It is also engaged in transfers and excursions using its own 13 tourist buses and additional buses rented from third parties. We assisted in the valuation of the company and acted as advisors in the sale of 50% of its shares to the German tour operator TUI.
Our firm has undertaken the development of a strategic plan for UTN. This plan was related with the intention of our client to operate in the Electronic Commerce market, providing reservation and purchase capabilities for tourism products through the Internet. This plan was consisted of the following:
• Market analysis for tourism and electronic commerce
• SWOT analysis
• Strategic goals
• Corporate strategy and enablers for the successful implementation
• Assessment of the company's readiness to be listed in the new stock market of ASE (NEXA)
The above mentioned has become the framework for the actions that the company should take in order to gain a leading position in the e-Travel market in Greece. It was also used as a tool to be used for the presentation of our client to potential strategic investors.