ETG confirms plan for majority investment in First Travel Group New Zealand.
Express Travel Group (ETG) has just announced it is in exclusive discussions with Auckland-based First Travel Group, which would see Express take a majority stake in the New Zealand travel agency network.
First Travel Group NZ has more than 60 members across the country with a collective TTV in excess of NZ$500 million.
The companies said the investment would see both organisations continue with business as usual, but with shared technology and systems to allow them to progress with enhancements to their customer experience in both retail and corporate travel.
“Express Travel Group and First Travel Group are both strong, fully integrated, independent businesses, having maintained a close relationship for many years,” said ETG CEO Tom Manwaring.
He said the businesses had much in common including strong local management, shared preferred partners, technology, customer segments and culture, as well as a strategic alliance entered into in 2015, with the deal expected to be progressed within a 90-day exclusivity period.
First Travel Group NZ CEO Malcolm MacLeod said “As First Travel Group approaches its 20th birthday, this is an exciting opportunity which will give our members the chance to enhance their businesses and give the group the tools to further grow the membership”.
More details in today’s issue of Travel Daily.