United Kingdom
United States
Asia Pacific
Cendant’s bonding arm signs up operators
Virgin Holidays, Travelpack and STA Travel have signed up to Bastion Surety, Cendant TDS’s independent bond provider.
The company was established last September by the Galileo parent company to offer bonding by insurance as an alternative to cash and bank bonds which can tie up capital.
Bastion chairman and Cendant TDS chief operating officer Chris Vukelich said the signing of such operators “clearly demonstrates that there has been a gap in the market for the bonding solution we offer”.
He added: “Travelpack is a long term Galileo customere which has given us a very clear understanding of Travelpack and its buisness cycles. Based on this knowledge we have been able to provide the company with a significant portion of their overall bonding requirements.”
STA Travel chief financial officer Mark Adams said: “We have been looking at using the surety markets to supplement our current bonding arrangements for some time. The arrival of Bastion and its willingness to provide significant bonding capacity at competitive prices has allowed us to do just that.”
Report by Phil Davies
Phil Davies
Tony from Gatto’s Pizza on Columbus’s Unique Pizza Trail
Sophia Hyder Hock on Global Social Inclusion in Tourism
Sustainable Tourism: Don Welsh on Community Values and Global Collaboration
Jane Cunningham: Enhancing European Engagement in Tourism
Kristin Dunne: Navigating Destination Strategy
Revolutionizing Mobile Connectivity: Boris Bijlstra on HUBBY eSIM
Capturing Glasgow’s Vibrancy: An Interview with Susan Deighan, Chief Executive of Glasgow Life
Lebua Hotel & Resorts: Rajan Khurana on Hospitality and Bangkok’s Charms
Sustainable Tourism and Growth: Insights from Chiravadee Khunsub from Tourism Authority of Thailand
Revolutionizing Travel: SmartSIM USA’s Dale Takio Unveils the Power of E Sims
TravelMole Interview with Hishan Singhawansa, Deputy CEO of Cinnamon Hotels & Resorts, Sri Lanka
Unveiling the Essence of Magari Tours: A Dive into Authentic Italian Experiences
EU airports bring back 100ml liquid rule
British Airways passengers endure 11-hour 'flight to nowhere'
CLIA: Anti-cruise demos could cause itinerary changes in Europe
Gatwick braces for strike
Co-pilot faints, easyJet flight issues ‘red alert’