Cruise wholesale package specialist Cruiseco to become part of Helloworld Travel Limited.
Helloworld Travel Limited has just confirmed an agreement to acquire the Cruiseco consortium from its co-founders Kevin Dale and Phil Hoffmann, as well as current majority shareholder Australian Pacific Holdings.
Helloworld Executive Director Cinzia Burnes said the deal aligned with the company’s strategy of expanding its cruise offerings in Australia and New Zealand.
She said the Cruiseco business was complementary to Helloworld’s existing Seven Oceans Cruising wholesale operation, with the deal to be funded from existing cash reserves.
“These two businesses, when combined, provide Helloworld Travel with a comprehensive range of cruise options for our retail agencies in Australia and New Zealand,” she said. Burnes noted that before COVID-19 hit Cruiseco was transacting about $70 million in annual TTV, while Seven Oceans had annualised sales of about $110 million.
Helloworld Travel has also this morning confirmed a new three year commercial agreement with Qantas.
More details in today’s issues of Cruise Weekly and Travel Daily.