United Kingdom
United States
Asia Pacific
Travelzest in £4.4 million deal for Holiday Express
Travelzest, formerly VFB Holidays, has acquired online travel agency Holiday Express in a deal worth up to £4.4 million.
The two companies have entered into an agreement that will see Travelzest, led by ex-TUI UK executive Chris Mottershead, pay an initial £2.18 million in cash and shares, rising to £4.4 depending on future performance.
Holiday express specialises in online travel fulfilment and online travel sales and sells package holidays, charter flights and ski
Through its subsidiaries, Holiday Express also own the rights to a number of travel website domains including www.holiday.co.uk, www.flight.co.uk and www.discountholidays.com.
In the year ending September 30, 2004 Holiday Express reported a turnover of £22.4 million with a profit before tax of £500,000.
A statement of intent from Travelzest said the company is aiming to acquire “a number of specialist niche travel businesses in order to create a new travel group which would include high quality bands.”
“The Directors are looking for companies which are able to demonstrate a successful track record during the last two years which have been a difficult period for the travel industry,” the statement said.
Report by Steve Jones
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