El Corte Inglés se hace con el 100% de su filial de Viajes tras comprar el 25% a Tool Factory

El Corte Inglés has secured full ownership of its travel subsidiary following the purchase of a 25% stake from Tool Factory. The Spanish retailer's chairman, Cristina Álvarez, reached an agreement with Tool Factory to acquire the remaining shares, which Tool Factory held after the merger with Logitravel in 2021. The acquisition, announced on a Thursday, followed a successful integration of Logitravel's technological and business components into El Corte Inglés' Travel Group.

The deal, which must be approved by the CNMC and the Portuguese competition authority, is part of a partnership agreement signed in February 2022, allowing Tool Factory to join El Corte Inglés' travel group. Logitravel contributed digital expertise, while El Corte Inglés brings extensive travel agency experience, including seasonal, business, incentive, congress, and event travel.

The integration process involved approval from both regulatory authorities and involved the disposal of 220 million euros in hotel assets, managed by SmyHotels. El Corte Inglés had previously allocated 220 million euros to acquire the 25% stake in February 2025. The company also clarified that the loan of 24 million euros, due in 2029, and the 236.8 million euros payment to Tool Factory in the 2022 financial year were taken into account in the deal's valuation.

The merger between El Corte Inglés Travel and Logitravel, formed in 2021, valued the travel subsidiary at around 950 million euros. When the operation closed, El Corte Inglés once again owned 100% of the travel subsidiary, which generated 3.489 million euros in revenue in the 2025-2026 fiscal year, a 3.1% increase, with an EBITDA of 107 million euros.