Western & Oriental is to sell off its luxury tour operation W&O Travel and its online brand key2holidays after reporting sustained losses.
Subject to shareholder agreement, the travel arm of the company will be bought by Furze International Limited which is owned by Kumar Family Trust. Director Raj Kumar is already closely linked with W&O after having lent the company £800,000.
W&O says the sale follows a decision by the board to focus on its profit making events arm. Kumar Family Trust will take possession of the forward order book and orders standing at £3,845,000.
In a statement made today, the company says it envisages no redundancies.
by Dinah Hatch
