Japan’s leading travel agency group JTB plans to buy Hawaiian corporate travel and event management company MC&A.
According to the Nikkei Asian Review, JTB will acquire all MC&A shares from investment company Seattle Hospitality Group for an undisclosed price thought to be several billion yen.
MC&A was established more than 30 years ago and handles about 500,000 customers annually, and generated $60 million in revenue in 2015.
JTB already has a strong presence in Hawaii especially for the leisure market and has about 30% of the Japanese market to Hawaii.
The deal will help JTB broaden its market base and better tap the lucrative MICE market.
JTB is also looking to extend its reach in the outbound China and South Korea MICE market.
