Spanish host company Viajes Terramar has announced it is ceasing operations due to economic problems.
The crisis in the tourism sector in the company's countries of operation, triggered by the fall of the national currency in 2014, has economically destabilized the company, both due to the decline in volumes and due to significant debts of bankrupt partners. This crisis was accompanied by unsuccessful investments of the company in the hotel business.
The difficulties in accommodating clients on our routes force us to announce that Viajes Terramar is ceasing operations. The cessation of operations means that we will not be able to accept new bookings and, for our part, we will make every possible effort to reduce the negative consequences for clients in this situation," the company said in a statement.
It should be noted that the company began operations in 1996, providing tourism services in the field of receiving tourists, mainly Russian-speaking clients.
Telephone for customer information support: 972373138.
Source: trn-news.ru