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Flotation plan by Lowcosttravel Group
Online holiday company Lowcosttravel Group is being prepared for a Stock Exchange flotation.
The company, established in 2004 by former Saga, Airtours and First Choice executive Paul Evans, is looking towards a listing as early as October.
The group is attracting as many as 1.3 million unique visitors a month to its family of 21 websites.
The float is seen as a mechanism to support both organic and acquisitive growth as Lowcosttravel Group aims to become a £300-£500 million annual turnover company.
The success of the online model, based on its core business of hotels, means that Lowcosttravel is returning a profit just two years after being established.
A source said: “The business is going really well and is in profit in its second year which is almost unheard of.”
Lowcost believes its low cost base using the internet as its distribution platform gives it a huge advantage over inflexible traditional operators who face huge advance commitments to room stock and in-house flying programmes.
Meanwhile, Laterooms.com is reportedly considering its strategic options which could include a possible float, according to the Daily Telegraph.
Report by Phil Davies
Phil Davies
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