Turkish investor Mustafa Kadiroglu has taken over local travel agency Prestige Tours. The tour operator was part of the Happy Tour group, one of the biggest tourism groups in Romania, owned by Spanish investment fund GED.

The transaction was announced on Friday, March 11, but the value was not disclosed.

Mustafa Kadiroglu owns the Turkish travel agency Calypso Tour. He plans to develop Prestige Tours and expand its operations abroad. The company will add more charter flights from Romania to Antalya in Turkey and Greece.

Last year, Prestige Tours had over 6,000 tourists on its charter holidays and this year it estimates some 20,000 tourists.

Prestige Tours had a turnover of EUR 10 million and EUR 450,000 losses in 2014, according to official data from the Ministry of Finance.

The seller, Happy Tour group, also includes the travel agency Happy Tour and the online tour operator Paravion.ro.

Investment fund GED buys Prestige Tours in Romania

editor@romania-insider.com