Travco completes Steigenberger deal

22 August 2009

Egypt-based Travco Group International Holding S.A.E has completed the strategic acquisition of Steigenberger Hotels AG, the company has said. The acquisition is viewed by the company as stepping-stone to worldwide presence, and entry into the city hotel business, particularly in the German, Austrian and Swiss markets. The group is also set to launch Travco Travel - a joint venture with TUI AG to cater to guests needs, offering over 1000 buses and 200 luxury limousines.

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