TUI: On a growth trajectory thanks to buy-and-build
For TUI, we analyzed approaches to market development and implementation in the growth area of Tours & Activities. In line with our recommendation, the Executive Board opted for a buy-and-build approach. We provided support in target selection and due diligence. Six months after the start of the project, TUI acquired the Italian startup Musement. Today, TUI Musement is one of three growth areas.
Our task: To find opportunities for growth in a saturated market and to adapt a legacy model to the accelerated competition
With flight and hotel bookings having already been extensively transformed through digital platforms like booking.com, tours and activities are perhaps the last big growth market in the digitalization of travel – and it is therefore fiercely competitive. TUI was already successfully represented with its own services, but it lacked speed and a scalable model.
„TLGG Consulting helped us during an early digitalization phase to find the right approach in a fiercely competitive market. TUI Musement is growing successfully and is an important pillar in the further development of the TUI portfolio of services and platform strategy.“ David Schelp, CEO TUI Musement
TUI acquired the digital booking platform Musement and set it up under the name TUI Musement.
The Executive Board followed our recommendation to engage a deeper due diligence assessment of the desired target Musement, a leading digital booking platform for tickets, tours and experiences. Six months after the start of the project, it was announced that TUI was acquiring Musement and thereby strengthening its position in the tours and activities market for the long term.