Case study: Rainbow Tours in Greece
In 2019 the Polish International Development Fund signed an investment agreement with Rainbow Tours SA. As part of financing, the fund took a 34% share in its subsidiary, White Olive A.E. The established cooperation will strengthen the position of White Olive on the Greek market. The planned period of the investment has been set at 4-10 years.
Type of financing: acquisition of shares in a subsidiary
Fund share: EUR 9 million
Total project value: EUR 18 million
Rainbow Tours is one of the largest tour operators in Central Europe. The company has been operating for over 30 years and since 2007 it has been listed on the Warsaw Stock Exchange. The company’s travel portfolio includes trips to almost 100 countries and over 150 tourist destinations.
The investment in White Olive will strengthen the position of Rainbow Tours on the European Union market and will improve its competitiveness.
Greece is one of the main tourist destinations offered by Rainbow Tours in Southern Europe and one of the most popular foreign holiday destinations for Poles. The fund’s investment will allow it to increase its hotel base and positively influence the company’s further development.
White Olive Hotels currently owns 3 hotels on the island of Zakynthos. The financing from the fund will allow the Greek company to build 2 more hotels. A second round of financing is planned in the future to expand the Greek hotel network of Rainbow Tours by another 7 establishments.
