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Article: Linking the rails: With its purchase of DER, Rail Europe seeks to remain a force in the European FIT market. (Focus on: Rail).(Destination Europe Resources)(Brief Article)
- Article from:
- Hot Rod
- Article date:
- March 4, 2002
- Author:
CopyrightCOPYRIGHT 2002 Advanstar Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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They have been longstanding competitors--even bitter rivals--in the market for European rail passes, but now they are joining forces. In a deal announced Feb. 15, Rail Europe Group, based in White Plains, N.Y., bought Destination Europe Resources (DER), headquartered in Rosemont, Ill. No purchase price was disclosed.
Both companies offer passes and point-to-point tickets for European rail travel. Rail Europe CEO Bernard Frelat estimates that together the two companies have 80 to 85 percent of the U.S. market for rail bookings on the European Continent. Rail Europe also owns Avanti Destinations, which features European and Latin American packages, and online FIT ...