Worldchoice is to remain a member of the Triton Travel Group despite its recommended merger with the Travel Trust Association.
The news follows the decision by the Worldchoice board to recommend a deal with TTA’s holding company TTA (2007) instead of joining fellow Triton member Global Travel Group.
Worldchoice chairman Colin Heal said it would not be an issue for members to be part of TTA and Triton, which currently is made up of members Global, Worldchoice and Advantage. “I don’t see it as a problem. If anything there will be more choice [of deals],” said Heal.
If the proposed TTA deal goes ahead, Worldchoice agents will still have access to Triton products and exclusive deals that Global parent company Stella Travel Services plans to roll out in the near future, according to Heal.
The deal involves TTA buying Worlchoice shares for £2.75 per share and setting up a members retention fund for peformance-based member payouts in five years’ time. It is expected to be completed by the end of March.
If successful, Heal will become chairman of the combined group – likely to be called the Worldchoice/TTA Group – and current TTA managing director Simon Hargreaves will be the managing directot. The new board would comprise four TTA directors and three Worldchoice directors.