Capital Tour

Capital Tour (Russian: «Капитал Тур») was a major Russian tour operator headquartered in Moscow. Founded in 2003 by spouses Inna Beltyukova (general director) and Igor Beltyukov (president), the company grew rapidly to become one of the largest tour operators in Russia. It operated across 40 tourist destinations, serving clients through an extensive agency network spanning Russia, the CIS, and the Baltic states. At its peak, the company employed around 700 people at its head office and maintained approximately 40 regional representative offices in Russian cities, as well as in Riga and Minsk. By 2008, Capital Tour reported revenue of $650 million, up from $358 million in 2007, and served 1.97 million tourists, compared to 764,000 in 2007. In 2009, according to the newspaper Turinfo, it ranked as the third-largest tour operator in Russia, after Intourist and OTI. However, the company faced severe financial difficulties in 2010. By the end of that year, its total debt had reached 1.3 billion rubles, including 45 million rubles owed to Moscow Credit Bank. On November 11, 2010, its accounts were frozen, leaving many tourists stranded abroad. From November 17, the company stopped sending tourists overseas, and those already on holiday had to pay again for their hotel stays. In total, 8,323 people were affected by the suspension of the company's operations. Attempts to restructure debts through MFK Bank failed when creditors rejected the proposal. On December 30, 2010, the two largest companies of the holding, OOO «Капитал тур» and OOO «Компания «Капитал тур»», filed for bankruptcy with the Moscow Arbitration Court. The court subsequently introduced a monitoring procedure. The collapse of Capital Tour accelerated the creation of the «Turpomoshch» association and the adoption of laws on guarantee funds in the tourism industry and mandatory insurance of tour operators' liability to clients.

Capital Tour was founded in 2003 in Moscow by spouses Inna Beltyukova and Igor Beltyukov. Inna served as general director, while Igor was president. The company quickly established itself as a major player in the Russian outbound tourism market, operating through a network of travel agencies. By the late 2000s, it had become one of the largest tour operators in the country, offering package tours to 40 destinations and maintaining a presence in Russia, the CIS, and the Baltic states. Its head office in Moscow employed around 700 people, and it had about 40 regional representative offices in Russian cities, as well as in Riga and Minsk. The company experienced rapid growth: revenue rose from $358 million in 2007 to $650 million in 2008, and the number of tourists served increased from 764,000 to 1.97 million over the same period. In 2009, according to the newspaper Turinfo, Capital Tour was the third-largest tour operator in Russia, behind Intourist and OTI. However, the global financial crisis and subsequent economic downturn severely impacted the company. By the end of 2010, its total debt had reached 1.3 billion rubles, including 45 million rubles owed to Moscow Credit Bank. On November 11, 2010, its bank accounts were frozen, causing immediate problems for tourists already abroad. From November 17, the company stopped sending tourists overseas, and those already on holiday had to pay again for their accommodation. In total, 8,323 people were affected by the suspension of operations. Capital Tour attempted to restructure its debts with the help of MFK Bank, but creditors rejected the bank's proposal. Negotiations between the tour operator and creditors were to conclude on November 29, 2010, but no agreement was reached. On December 30, 2010, the two largest companies of the holding, OOO «Капитал тур» and OOO «Компания «Капитал тур»», filed for bankruptcy with the Moscow Arbitration Court. The court introduced a monitoring procedure for OOO «Капитал тур». The collapse of Capital Tour had a significant impact on the Russian tourism industry, accelerating the creation of the «Turpomoshch» association and the adoption of laws on guarantee funds and mandatory insurance of tour operators' liability to clients.

• Company founded in Moscow by Inna Beltyukova and Igor Beltyukov.

• Revenue reaches $358 million; 764,000 tourists served.

• Revenue grows to $650 million; 1.97 million tourists served.

• Ranked third-largest tour operator in Russia by Turinfo.

• Bank accounts frozen.

• Stops sending tourists abroad.

• Files for bankruptcy with Moscow Arbitration Court.

One of the largest Russian tour operators, serving mass-market outbound tourism across 40 destinations.

• Package tours to 40 destinations

• Tour operator services

• Travel agency network services

1. 1Капитал Тур — Википедияru.wikipedia.org
2. 2Capital Tour — Wikidatawikidata.org
3. 3www.capital-tour.rucapital-tour.ru