The largest Ukrainian network of travel agencies stopped working

The largest network of travel agencies in Ukraine Goryachie Tury (lit. Hot Tours) has stopped working, according to the website of the Association of Tour Operators of Russia (ATOR) on Monday.
Phones of the company written on their official website do not respond.

Goryachie Tury (lit. Hot Tours) is the biggest travel franchise network of over 250 offices within Ukraine. As of 2014, the group consisted of franchise network One 2 fly (Russia) and Hottours GMBH(Germany ). About two weeks ago, there was already information that this travel company is facing financial problems. According to one of the Ukrainian companies, tourists are almost not affected because of termination of work: in most cases, travel agencies who worked under the brand name of Goryachie Tury prefer to re-pay for the tourists to the tour operators.

According to experts, owners were manipulating with money that had to go from travel agents through the central office of Goryachie Tury to tour operators. According to some estimates, the amount of debt of "Hot Tours" on bank overdrafts to tour operators and travel agents is up to $ 1.5-2 million.

The Russian network of travel agencies Goryachie Tury (lit. Hot Tours) does not have anything in common with Ukranian network, except the name, according to the news release published by Russian Goryachie Tury.