Palma/Hanover, 27 May 2021

RIU Group acquires TUI’s 49% stake in 19 RIU branded hotel properties

After this transaction, that also includes two hotels in development in Mexico and Senegal, RIU Group will hold 100% of the ownership of the properties 

RIU Group will acquire from TUI its 49% stake in 19 hotel properties which are operated under the RIU Hotels & Resorts brand and are located in four different continents, as well as two more hotels that are now under development. The Riu family already holds 51% stake of these properties and will now become its sole owner. The transaction has been approved today by TUI’s Supervisory Board and is valued at 670 million euros.
 
Loyalty was paramount in the negotiations for this transaction, given that both companies have a firm desire to maintain and strengthen their strategic and commercial relationship over the long term. In fact, TUI is maintaining its 50% stake in RIUSA II S.A., the company that manages the RIU brand hotels and which the two companies founded in 1993.
 
This operation comes in the context of the crisis caused by the COVID-19 pandemic, which has profoundly affected the tourism industry. For its part, with this extraordinary indebtedness effort, RIU continues supporting its strategic partner over the long term. Furthermore, after confirmation that the ownership model has turned out to be an advantage in facing this crisis, taking 100% control of the ownership of these hotels provides additional agility in confronting possible paradigm changes in the near future.
 
RIU maintains its position of strength, its management will continue, as always, to be characterized by prudence and stability, and it will continue working on reactivation, with the intention of preserving all of its jobs.

About RIU Hotels & Resorts

The international RIU hotel chain was started in Mallorca, Spain, in 1953 as a small holiday business run by the Riu family, the founders and current owners, now in its third generation. The company specialises in holiday accommodation and over 75% of its establishments offer RIU's renowned All-Inclusive service. With the opening of its first city hotel in 2010, RIU expanded its product line with its own range of urban hotels under the name Riu Plaza. RIU Hotels & Resorts has 96 hotels in 20 countries, with a total of 34,215 employees that welcomed 6 million customers in 2022. RIU is currently the 32nd largest chain in the world, and is second in Spain by turnover and fourth by number of rooms.