Online accommodation supplier the Trust Accommodation has been acquired by Centurion Holiday Group (CHG) for an undisclosed sum.
CHG was formed late last year from the ashes of Indigo Holidays, a tour operator which management closed in August.
The major shareholders are Associated Newspapers and Trust Accommodation chief executive Haim Perry who both have a 38% stake.
Trust Accommodation sales and marketing director John Harding has also taken a “minor shareholding” and becomes CHG chief executive while industry consultant Roger Allard has a 7.5% stake. He also becomes a non-executive board member.
Harding said the deal will give Trust Accommodation financial backing in the increasingly competitive accommodation-only sector.
“In order to compete with some of the major players you need resources,” he said. “We have had a successful year but some competitors have bottomless pockets. This will give us, if not bottomless pockets, greater buying power and a level of commitment that is extremely important.”
He added that in light of the recent “dilution of customer financial protection”, any agent booking with Trust Accommodation is fully protected.
