Preussag’s Austrian deal adds 21,000 beds

2001-08-24

Preussag has bought stakes in an Austrian holiday club and a privately owned Polish airline, giving it an extra 21,000 beds and 13 planes. Preussag has bought stakes in an Austrian holiday club and a privately owned Polish airline, giving it an extra 21,000 beds and 13 planes.The Austrian deal sees Preussag taking 50% of Magic Life International, an all-inclusive specialist which owns and operates 22 complexes - 11 in Turkey, six in Tunisia, three in Greece and a single operation in Bulgaria and Egypt. It also owns a Nile-based cruise liner.Magic Life had 290,000 customers last year and turned over €114m (?72m). Its 21,000 beds brings Preussag’s total to 137,000 in 270 hotels.The Polish deal strengthens Preussag’s market leadership in the region. The 29.3% stake in White Eagle Aviation should help the charter operations of Scan Holidays and TUI Poland.