The Lowcost Travel Group has refused to comment on rumours it is in talks with transfer company Resorthoppa about a potential acquisition.

The group has already said it is in talks with two potential targets in addition to its recent announcement that it has signed a deal in principal to buy cruise specialist agency Ideal Cruising.

Director Lawrence Hunt said the group was in continual discussions with a large number of companies which could complement the existing business.

He said: “We are having conversations every day with lots of people that want to merge. I continue to talk to transport companies and there are some interesting discussions but whether they will lead to deals or not, who knows.”

The acquisition of Ideal Cruising is set to go ahead before Christmas subject to shareholder approval and depending on final legal negotiations and due diligence.

It is understood the agency will review its membership of the Freedom Travel Group once the acquisition is complete, however, Hunt said: “We have not made any decision about what we are going to do. If it makes commercial sense to stay in Freedom we will stay, if not we will come out. We are quite open-minded about it. We have got huge respect for Freedom and The Co-operative Travel.”