What Intourist Is Silent About?

[IMG=20759-6530]On August 18th BANKO correspondents continued investigation of the investment activity of Intourist. We remind you that according to unofficial information Intourist plan to enter business of such tour operators as Riviera, Skyway, UTE Megapolus Group and an agency chain Greenex. Eduard Kuznetsov, President of UTE, was the first to comment on the situation: ‘the tempo of development of retail and outcoming tourism projects of UTE exceeds its inner opportunities. Therefore, we are negotiating with several investors attracting them into financial participation. We are negotiating with both Russian and foreign companies’. Затем корреспондент Furthermore, a BANKO correspondent contacted Vadim Lezhnin, President of Riviera, who contested the information regarding negotiating a potential deal with Intourist. According to him, the only co-operation with Intourist is a joint flight program from Samara. Meanwhile, top manager of Greenex, Konstantin Khmelev, confirmed the interest of Intourist in its business. ‘We have not discussed co-operation in detail’, said Khmelev. Representatives of Skyway withheld commenting on the situation, while Intourist invited a BANKO correspondent to the office to discuss the situation. As a result, information regarding potential deals with Intourist was not confirmed. However, it is understood that the situation will be clear by autumn exhibitions. Nevertheless, experts interviewed by a BANKO correspondent consider the strengthening of the investment activity to be a positive trend in the travel industry. ‘Travel market is becoming more civilized. Buying or selling a company is a normal process’, said Ilia Itkin, General Director of PAC Group. ‘Merger is better than bankruptcy’, commented Ludmila Puchkova, President of Lanta-tour Voyage.