LONDON (Reuters) - Travel giant TUI Group (L:TUIT) is likely to sell its Hotelbeds unit but is not considering a sale of its specialist holiday brands, Peter Long, joint-chief executive of the company told reporters on a call on Thursday.
TUI said in May that Hotelbeds, the biggest business-to-business accommodation wholesaler, was the subject of a strategic review. It reported core earnings (EBITA) of 117 million euros (85 million pounds) for the year ended Sept. 30.
"Whilst we haven't made a final decision at this point the likley outcome is that we will enter a sale process," Long said.
He said that the company was not considering selling its specialist units, including the Crystal and Hayes & Jarvis brands.
"We are not looking at an option in terms of not retaining those businesses within the portfolio," he said.