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Flight Centre Travel Group makes series of ‘strategic’ acquisitions
Flight Centre Travel Group has acquired six travel businesses around the world in under six weeks.
The group, which owns travel management company FCM Travel Solutions, said the ‘strategic’ acquisitions would strengthen its corporate and leisure business in specific markets.
Since July early July, Flight Centre Travel Group has secured separate agreements to acquire:
– Les Voyages Laurier du Vallon in Canada, a Quebec-city based corporate, luxury leisure travel and MICE company with a turnover of Can$9.4m, of which around 40% is generated by its business travel services
– Executive Travel Group in New Zealand, with a total transaction value (TTV) of NZ$60M last year
– Travel Managers Group, a mainly leisure-focused company in New Zealand that provides systems and support services to more than 180 individual brokers; and also operates a franchise network of 12 TravelSmart shops and 10 non-branded stores
– Olympus Tours, a leading Mexico-based destination management company (DMC) with operations across Mexico, the Dominican Republic and Costa Rica, with a turnover of US$25M in 2016
– Bespoke Hospitality Management, an emerging Thailand-based regional operator of 14 existing design and lifestyle leisure hotels in Bangkok, Phuket, Koh Samui, Pattaya and Chiang Mai, plus an additional 19 properties in development
– Travel Partners, a Sydney-based business with a network of independently contracted home-based consultants or mobile travel agents generating TTV of around AUD$70M in its 2017 financial year.
Marcus Eklund, global general manager for FCM Travel Solutions, said: "Each acquisition is of significant strategic importance, whether that’s fast-tracking corporate and leisure business growth in certain markets, expanding Flight Centre’s in-destination network, or adding new distribution channels."
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Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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