Stella UK boss refuses to rule out flotation

A future flotation of Stella Travel Services has “not been ruled out” according to Stella Travel Services UK managing director Andrew Laurie.

Stella Travel Services owns the brands Harvey World Travel, Travel 2/Travel 4 and Travelbag in the UK. Private equity company CVC Asia Pacific has a majority shareholding in the company.

Laurie, speaking at the Institute of Travel and Tourism’s Odyssey Supper at the House of Commons, said: “I would not rule it [a flotation] out.”

He added there were no current plans to float the company but it was likely to be an option considered by CVC. Traditionally private equity companies look at exit options after three to five years although CVC historically has invested in companies for around six years.

Laurie said: “We are a big global company, majority owned by a private equity firm. At some point they will look at exit options and where they get best value, whether it’s a flotation or sale.”

Market conditions would also play an important factor in the decision, he added.

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