Kuoni sells Swiss head office
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The Kuoni Group has sold its Zurich head office.
The ‘Neue Hard’ property in Switzerland’s financial capital was purchased by Zürcher Kantonalbank for CHF75 million (US$76m), which Kuoni said “matches the estimated market value”.
The move forms part of Kuoni’s efforts to streamline its property portfolio in Switzerland. The head office becomes the third Zurich building sold by the Swiss travel company in the last few years. Staff at the office are expected to move into their new office in the second half of 2016.
2015 has been a year of major change for Kuoni, which included it exiting the tour operating business. These operations have since been acquired by DER Touristik and Thomas Cook India.
Its new senior management team, including chief executive officer Zubin Karkaria, chief information officer Dhiren Savla, and chief HR officer Bernard Martyris, will all now be based in Dubai, alongside the VFS Global visa business.
Kuoni has been headquartered in Switzerland for 109 years.
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