FIRST Choice has bolstered its soft adventure division
with the acquisition of two companies for a total of £6.2 million.
At its annual general meeting the company
reported the acquisition of Hampshire-based The Adventure Company from Ebookers
for £3.1 million and scuba diving wholesaler Caradona Caribbean Travels for
£3.1 million.
The Adventure Company managing director Mark Wright
said the sale could mean increased distribution through independent agents and
expansion of its family adventure programme. No redundancies are planned.
He added the company’s recent rebranding from
Travelbag Adventures was to clarify its brand rather than pre-empt a sale from
parent company Travelbag Holdings.
Currently 90% of sales are direct and it has annual
passenger carryings of 5,500. Its main rival is Explore Worldwide.
Ebookers group managing director Peter Liney called
The Adventure Company “a great little business” but non-core. “Our future is
about building online sales,” he added.
The news comes as First Choice UK and Ireland reported
in its AGM statement summer 2004 sales are 38% up in the past four weeks,
compared with 20% down on the previous year prior to December 9. Cumulatively
the company is 6% behind last year.
Daily online bookings have doubled compared with the
December to March period last year.
Chairman Ian Clubb, who stood down at the AGM, said:
“We see this route as being a key element of our distribution capability both
for full brochure sales and late holidays.”
Meanwhile, the number of winter 2003/04 holidays First
Choice has left to sell is similar to last year. The operator has secured a new
£310 million credit facility until March 2008 with banks, replacing the facility
due to run out this September.