Swiss Travel Major Picks Up Majority Stake In Sotc

The new company, SOTC Kuoni, will receive Kuoni's travel on-line computer system as well as access to Kuoni's worldwide contract rates for hotels and sight seeing attractions.

Kuoni will subsequently assist SOTC Kuoni in setting up a division to handle foreign tourists into India.

SOTC Kuoni will shortly be introducing new products for various travel markets.

With a sales of 2.9 billion Swiss francs, the Kuoni group is one of Europe's largest tour operators.

Over the years, Kuoni has sent more than 30,000 tourists into India. Kuoni`s interests are primarily tour operations, retailing, business travel, special interest travel, beach holidays and safaris.

 

Gullotti chief executive officer of Kuoni Travel said, "The Indian market offers tremendous opportunities to the foreign investor and we are pleased by the highly developed management skills and professional approach in India."

SOTC has a current turnover of Rs 55 crore and is believed to hold 70 per cent share of the Indian holiday market.