Tui confirms sale of Meon Villas

TUI has confirmed it has sold Meon Villas to #luxury #villa specialist Oliver's Travels.

Meon Villas, part of Tui's Specialist Holidays Group, was closed at the end of October last year after a decision to focus on the hotel villas featured by sister brand Sovereign Holidays. Tui said that the villa operator's assets, including its client and trade database and the Meon name, had been sold for an undisclosed sum. It is likely to retain around 15 of the 80 property contracts which Meon had.

Oliver's Travels has villas and chateaux in Europe and the Caribbean. The acquisition will allow it to increase its villa portfolio in key Mediterranean destinations.

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Meon Villas to close

MEON VILLAS, part of the TUI holiday group, is to close in October. 

Susan Allan at TUI said: ‘The market for #villaholidays has changed over the years. We have as a result reviewed our business model and taken the decision to no longer operate the Meon Villas programme post October 2015.

In a statement, TUI added: ‘We have seen growth in recent years in the hotel villas we feature within the Sovereign programme and have decided that for the future this is where we wish to focus our efforts.

The villa market has come under pressure from the large-scale growth and popularity of private, peer-to-peer accommodation bookings.

Last summer, villa specialist Villa Parent ceased trading after the collapse of its parent company Air Parade. 

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