TUI Group Buys Musement as Tours and Activities Sector Stays Hot for Deals
Photo Credit: Musement was acquired by TUI Group for an undisclosed amount. Pictured is a tourist at the Trevi Fountain in Rome. Flickr / Peter Sigrist
Skift Take
The global heat map for tours and activities continues to burn bright this year as big players like TUI scoop up small players like Musement for back-end technology that will help them get more personalized products to travelers.
TUI Group has acquired Milan-based tours and activities startup Musement for an undisclosed amount in what has been an active year for the global tours and activities sector.
TUI said it has big plans for its newly enlarged tours and activities business earlier this year when it bought a destinations services business from Hotelbeds Group for $136 million, and Musement will remain independent within TUI Destination Experiences which is available in 49 countries, according to a statement from the company. TUI estimates the global tours and activities sector is worth $174 billion with a 7 percent annual growth rate.
Musement has raised $16.5 million to dat
