United Kingdom
United States
Asia Pacific
Saga puts Destinology back on the market
Saga is trying again to sell its luxury tailormade travel business Destinology as part of plans to streamline the business, according to Sky News.
The over-50s travel and insurance specialist announced last week that it was to lay off around 300 members of staff, with most of the job losses expected to come from the travel side of the business.
The company, which saw its after-tax loss almost double in 2019, has been hard hit by the coronavirus pandemic as it has invested heavily in the cruise side of the business.
Sky News reported today that it has instructed bankers to seek a buyer for Destinology, which it bought in 2014. The professional services firm Duff & Phelps is understood to be handling the process.
Saga’s previous chief executive Lance Batchelor is understood to have been seeking a buyer for both Destinology and one of the group’s other travel brands Titan Travel in March last year.
Batchelor retired late last year and was replaced by Euan Sutherland, the former chief executive of clothing brand Superdry and the Co-operative Group.
Saga, which also owns Saga Holidays and Saga Cruises, didn’t comment on the Sky report.
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
Tony from Gatto’s Pizza on Columbus’s Unique Pizza Trail
Sophia Hyder Hock on Global Social Inclusion in Tourism
Sustainable Tourism: Don Welsh on Community Values and Global Collaboration
Jane Cunningham: Enhancing European Engagement in Tourism
Kristin Dunne: Navigating Destination Strategy
Revolutionizing Mobile Connectivity: Boris Bijlstra on HUBBY eSIM
Capturing Glasgow’s Vibrancy: An Interview with Susan Deighan, Chief Executive of Glasgow Life
Lebua Hotel & Resorts: Rajan Khurana on Hospitality and Bangkok’s Charms
Sustainable Tourism and Growth: Insights from Chiravadee Khunsub from Tourism Authority of Thailand
Revolutionizing Travel: SmartSIM USA’s Dale Takio Unveils the Power of E Sims
TravelMole Interview with Hishan Singhawansa, Deputy CEO of Cinnamon Hotels & Resorts, Sri Lanka
Unveiling the Essence of Magari Tours: A Dive into Authentic Italian Experiences
EU airports bring back 100ml liquid rule
CLIA: Anti-cruise demos could cause itinerary changes in Europe
Co-pilot faints, easyJet flight issues ‘red alert’
Dozens fall ill in P&O Cruises ship outbreak
Woman dies after getting ‘entangled’ in baggage carousel