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Egyptian Tourism Entrepreneur Buys Stake in TUI

Patrick Whyte
TUI 787 Dreamliner

Photo Credit: A TUI Group 787 Dreamliner. The company has a new shareholder. TUI Group

Skift Take

One of Warren Buffett's best known bits of investment advice is: "Be fearful when others are greedy and greedy when others are fearful.” The fundamentals for TUI still look good, so Hamed El Chiaty might have just struck a bargain deal for himself.

Egyptian tourism entrepreneur Hamed El Chiaty has bought a 3.4 percent stake in TUI Group. El Chiaty, who, along with his family, also owns travel conglomerate Travco Group, said he knew and trusted TUI's management team. He noted that the company's move from a traditional tour operator to an owner of hotels and cruise ships ensured it could “absorb the temporary burdens" caused by the wo

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