El Corte Inglés gains full ownership of its travel subsidiary

El Corte Inglés completed the acquisition of the final 25% of its travel subsidiary, achieving total ownership after the share held by Tool Factory was bought out. The transaction price was not made public, but the group had previously set aside €220 million following a 2022 shareholders' pact. Regulatory approval is pending from the Spanish CNMC and the Portuguese competition authority.

The travel division, which emerged from a merger with Logitravel, generated €3.489 billion in revenue and saw a 3.1% rise in turnover in the most recent fiscal year, with EBITDA reaching €107 million. Chairman Cristina Álvarez highlighted the unit’s role in strengthening customer ties. Tool Factory will now focus on hotel-asset investments managed with SmyHotels.