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Octopus Travel closure
Switzerland based Kuoni Travel, who acquired GTA for US$ 720 million from Travelport in March 2011, has closed GTA's consumer site Octopus Travel per last week. The company says it will still honor all hotel bookings made until March 31st, 2013. According to Kuoni, the decision to close Octopus is purely strategic and was made based on the continued challenging business climate in Europe. In addition to Octopus Travel, Kunoi also decided to close several loss-making European tour operator activities in Italy, Spain, the Netherlands, Belgium, and Russia. As per last week, Octopus are not accepting new hotel bookings anymore. Existing bookings until March 31st 2013 are still honored by Octopus Travel. Customers who hold reservations after April 1st, 2013 will be contacted until December 31st, 2012.