Massive merger in travel sector – The Post

Massive merger in travel sector

Apollo and Frank Lauritsen to combine forces

November 12th, 2014 8:00 pm| by admin

Two giant Danish travel companies, Falk Lauritsen Rejser and Apollo Rejser, will merge next year, Apollo announced in a press release today.

From the winter 2015-2016 season, the company will be called simply Apollo. Meanwhile, Søren Falk Lauritsen, the founder of the company bearing his name, will retire after 45 years in the industry.

Industry changing
The pair have been sister companies since 2007, owned by the Swiss parent Kuoni Travel. “By consolidating destinations, hotels and products under one name, we will be more competitive,” Niels Grossen, the head of Kuoni in Denmark, told TV2 Finans.

“The market for travel is changing enormously these days and the competition is increasing, so I understand fully that the owners want to merge resources in order to be more competitive,” Lauritsen said in the Apollo press release.

The move will result in five redundancies. “Kuoni will thereafter employ 50 people in Denmark,” Grosen confirmed.