By Elsa Baxter
Deals agreed for Gulf Dunes LLC and Reem Tours & Travel LLC, prices not disclosed
Kuoni, the global destination management company, has bought out two UAE-based companies – Gulf Dunes LLC and Reem Tours & Travel LLC, the firm announced Thursday.
The acquisitions mark a further expansion of Kuoni’s activities in the Gulf region, especially in the MICE (meetings, incentives, conventions and exhibitions) sector.
The sale agreements were signed Wednesday and the transactions will be concluded in the next few weeks, a statement said. Purchase prices were not revealed.
According to the statement, “all Gulf Dunes and Reem Tours & Travel employees will be retained, as well as their brands. Both companies will also remain under the management of previous owner Gamal Fathy.
Both companies will be incorporated into the Kuoni Group’s Destination Management Arabia/Africa organisation.
The Kuoni Group is already home to Desert Adventures Tourism, which was acquired in 2008.
Gulf Dunes has worked in the MICE sector since its formation in 1995, while Reem Tours and Travel, established in 2003, is a destination management company with a strong customer base in South America.