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MyTravel details cruise ambitions
MyTravel’s return to cruise operations is dependent on access to the right tonnage.
The group’s UK managing director John Bloodworth, outlining plans for the future, admitted MyTravel did not have the money to replace older ships when it was running Airtours SunCruises due to the group’s financial circumstances at the time.
However, following the restructuring of the business and the success of the cruise distribution by the Cruise Store, which claims eight per cent of the market after two years of operation, the group is keen to return to cruise operations. It has also acquired Encore Cruises, the largest cruise wholesaler in Canada, from First Choice in the past 12 months.
MyTravel chief executive Peter McHugh has experience of the sector with time spent heading Holland America Line – giving the group an important insight into running cruises.
Bloodworth said: “We think that if we had the right tonnage and the right ship or ships we would be happy to get back into cruise operations.”
But any return to the sector is dependent on availability of the right kind of vessel which would be acquired from an existing cruise line.
For that reason, Bloodworth was unable to put a timeframe on when MyTravel might resume cruise operations.
He added that MyTravel’s domestic holiday ambitions were fuelled by a desire to balance the operator’s offerings – and he would not rule out acquisition to enter the market.
Predicting that the group’s UK operations would return to profit in the current financial year after an ongoing reduction in annual losses, Bloodworth revealed that MyTravel had “several” other unnamed options should its discussions to acquire First Choice’s mainstream business fail.
He said the group supported consolidation in the UK tour operating industry as it would result in less capacity but would not pay over the odds for the First Choice operation.
“We are interested in acquisitions but not any any price,” Bloodworth said.
Report by Phil Davies
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