A private equity firm has injected a six-figure sum into online ski specialist Ski Line as the company looks to increase turnover by 75% in 2006.
The operator, which specialises in chalets across 168 resorts, said the investment will accelerate the growth and lead to a floatation on the Alternative Investment Market (AIM) in the next five years.
The investor’s identity has not be disclosed but was described as a “high-profile” private equity investor.
Managing director Angus Kinloch said it wants to increase turnover by 75% next year – from £5 million in 2005 – and by a further 50% in 2007.
He claimed the ambitious growth targets follow rapidly improving conversion rates following the launch of its new website in September.
“There is a lot of money to be made in online travel,” he said. “Along with online casinos, internet travel companies dominate the short list of dot-coms that are still attracting the attention of city investors, Ski Line hopes to join the ranks of listed travel companies very soon.”
Report by Steve Jones
