Expansion of wholesale portfolio to meet increasing demand for packages.
Helloworld Travel Limited has just announced the acquisition of a controlling stake in Perth-based Asia Escape Holidays.
HLO is paying $2.88 million for 60% of Asia Escape’s parent company, Keygate Holdings Pty Ltd, with an option to increase this to 100% in four years.
Asia Escape Holidays will continue to be run by its managing director, Mason Adams, who will retain the remaining 40% of the business and become part of the Helloworld senior management team.
“Asia Escape Holidays is an excellent strategic fit to Helloworld’s existing wholesale businesses and provides the group with a trade focused brand that has the expertise and speed to market to compete in the growing package and impulse buying market for travel throughout the Asia Pacific region,” said Helloworld ceo Andrew Burnes.
The announcement coincides with Helloworld’s 2018 Owner Managers Conference (OMC) and the Helloworld for Business Summit which are taking place from today in Adelaide.
More details in today’s issue of Travel Daily.