The Invia group, the largest online travel retailer in the Czech Republic, is up for sale, writes Hospodářské noviny (HN) today, citing several unnamed sources from investment, tourism and consulting circles. Invia is currently controlled by Chinese company CITIC together with Jakub Havrlant’s investment group Rockaway. Neither of the companies concerned commented to the newspaper on the information about the sale.
One of the sources told HN that negotiations on the sale of Invia are at an advanced stage and due diligence is already being carried out in the group. Even so, he said, the transaction could take a long time, as the Chinese group is not one of the investors who make quick decisions.
The Rockaway group did not comment on HN’s inquiry about the sale, and Invia also made a similar comment. CITIC board member Jaroslav Tvrdík also did not respond to the newspaper’s question about the sale.
Invia has changed hands several times over the past 20 years. First it was the agency MojeDovolená.cz. The name changed to Invia after the Swiss investment company Centralway Holding entered the company in 2004. In 2016, the travel retailer was bought by investment group Rockaway, and shortly afterwards, the Chinese group CEFC acquired a stake in Invia, which was later taken over by Chinese state-owned group CITIC.
CITIC investors with investment group Rockaway control Invia through European Bridge Travel (EBT). According to the minutes of last year’s general meeting, CITIC owns a 60 percent stake in EBT, with Rockaway holding the remaining 40 percent, HN reports.
The Invia group serves about two million customers a year, according to data on its website. In addition to the Czech Republic, the travel agency also has offices in Slovakia, Poland, Hungary and Germany. “In 2023, Invia Group sold 1.57 billion euros (CZK 39.4 billion) worth of tours,” Invia spokeswoman Jiřina Ekrt Jirušková told the newspaper. Invia has not published its financial results for a long time. It is therefore difficult to estimate the eventual sale price, according to HN.
Source: Hospodářské noviny and CTK
