Rainbow Tours in 2026: Poland's number-two tour operator, headquartered on Łódź's Piotrkowska street, an mWIG40 issuer after the post-pandemic tourism boom

Rainbow Tours in 2026: Poland's number-two tour operator, headquartered on Łódź's Piotrkowska street, an mWIG40 issuer after the post-pandemic tourism boom

Rainbow Tours S.A. - headquartered at ul. Piotrkowska 270 in Łódź (postcode 90-361), registered in the KRS under number 0000178650 - is Poland's number-two tour operator (after privately held Itaka). The company has operated in its current legal form (joint-stock company under KRS 0000178650) since 4 November 2003, listed on the Warsaw exchange since July 2007. The business roots go back to 1990, when Grzegorz Baszczyński founded the first version of Rainbow Tours in Łódź as one of the first private tourism companies of Poland's post-1989 transition.

Structural signatures of Rainbow Tours in 2026:

• The number-two player in the Polish tour-operator market behind privately held Itaka (Itaka remains larger but unlisted).
• Headquarters on ul. Piotrkowska - Łódź's historic main street. A prestigious address in a city that has, since the 1989 transition, evolved from a textile-and-industrial heritage toward office services and culture.
• Multi-brand portfolio: Rainbow (charter package - organised travel with air transport), Bee&Free (online travel - air ticket and hotel sales), Aero Tour (business-travel segment).

Rainbow Tours

ŁÓDŹ · KRS 0000178650 · SPÓŁKA AKCYJNA

Revenue

4.6 B PLN

ul. Piotrkowska 270, Łódź: address prestige in a post-factory city

The address ul. Piotrkowska 270, 90-361 Łódź, places Rainbow Tours's seat on Łódź's historic main street - a place significant for the city both historically (Piotrkowska in the 19th century was the axis of development of textile Łódź - "the Polish Manchester") and today (after revitalisation and transformation into a retail-and-services corridor). This is significantly more prestigious than typical mWIG40 management seats in class-A office sub-districts.

The company has a registered electronic-delivery address (ADE: PL-25975-53779-IFHWE-30) and a website at r.pl (a short national address reflecting the group's domestic exposure). Governance: a four-member management board (CEO, two vice-presidents, one female member) and a seven-member supervisory board.

Under Polish PKD codes the principal activity codes include 79 (travel agency, tour operator and other reservation service activities) - including 7911 (travel agency activities) and 7912 (tour operator activities). These are the same codes used by all Polish tour operators, public and private.

Polish tour-operator market: Rainbow Tours as the only large stock-listed player

The Polish tour-operator market (organised-travel providers) has a structure on the Warsaw exchange that is strongly fragmented outside Rainbow Tours:

• Itaka - the largest Polish tour operator (~30% market share), unlisted, controlled by private owners.
• Rainbow Tours - second-largest (~15–20% market share), listed on the WSE.
• TUI Poland - the Polish part of Germany's TUI group, unlisted in Poland.
• Coral Travel Poland, Sun Express, Grecos, Wezyr - smaller players, regional / specialist segments.

Three structural features of the Rainbow Tours model that explain its mWIG40 positioning:

• Charter-package model as the core of the business - Rainbow specialises in organised travel (flight + hotel + transfer + meals + insurance) sold through a partner-agency network and online. This is a high-volume, low-margin but stable business - most Poles look for summer destinations in this format.
• Polish outbound tourism market in growth phase - in 2021–2024 Polish outbound-tourism spending grew double-digit year-on-year as Poles compensated for lost pandemic years. In 2026 growth pace is normalising, but the segment remains attractive.
• Seasonal cyclicality of results - most Rainbow Tours revenue is generated in the summer season (June–September) and winter season (February–March). This makes Q1 and Q4 weaker than Q2 and Q3, but predictably cyclical.

Implication for the investment profile: post-COVID boom, generous dividend, FX exposure

“Rainbow Tours is a classic case of a Polish post-pandemic recovery consumer company. In 2020–2021 the company nearly went bankrupt due to the halt in tourism traffic; in 2022–2024 it regained its full force, generating record profits and paying generous dividends. In 2026, after the sharp rebound phase, the market returns to a normal cycle - with naturally high Polish-consumer demand for outbound travel.”

Three expected consequences for the company's 2026 investment profile:

• Generous dividend policy - Rainbow Tours has historically paid high dividends in strong-result years (2023 peak: ~PLN 5–8 per share, yield 6–10%). In a year of strong operating performance and low investment the dividend is attractive; in a slowdown year (e.g. potential COVID-2 or consumer recession) - significantly lower.
• USD/EUR currency exposure - hotel and transfer fees in many destinations are paid in USD or EUR, while the customer pays in PLN. A weaker zloty raises tourism-import costs - affecting the margin. A stronger zloty - the reverse. This makes Rainbow Tours sensitive to exchange-rate moves in a seasonal-cyclical pattern.
• Competitive pressure from Itaka and TUI - Itaka as the private market leader can invest freely without short-term stock-market pressures; TUI Poland benefits from global purchasing scale. Rainbow Tours sits in between - with stock-market financial discipline and domestic operating scale.

For the Łódzkie voivodeship itself, Rainbow Tours is the third flagship mWIG40 issuer of the region (alongside Mabion and LPP) - Łódź as a 600,000-population metropolis has meaningful stock-market representation, despite historically being an industrial rather than corporate city.

What you'll find in the Rainbow Tours profile

The Rainbow Tours S.A. profile in our database carries the full picture of the company: composition of the four-member management board (CEO, two vice-presidents, one female member - making Rainbow Tours one of the Polish mWIG40 issuers with female board representation), the seven-member supervisory board, the KRS registration history from 4 November 2003, the registered address at ul. Piotrkowska 270 in Łódź, e-delivery status (ADE PL-25975-53779-IFHWE-30), website r.pl, and the assigned PKD codes classifying the activity as tour-operator. The profile is also available in English - important for international consumer-fund investors, since Rainbow Tours is the only large Polish stock-listed tour operator.

Data: Polish KRS Court Register (KRS 0000178650); Rainbow Tours S.A. - annual reports 2023–2025; PKD classification 79 (tour-operator activity); company history - founded 1990 by Grzegorz Baszczyński, S.A. 2003, WSE IPO July 2007; editorial estimates for the position in the Polish tour-operator sector, as of 2026-05-02.