Vertical Group has stepped in to rescue the Amathus Holidays brand from the ashes of the collapsed Preston Travel Group.
Amathus UK reassured agents last month that the Amathus Holidays brand would begin trading again under a new licence agreement.
Preston Travel Group had a trademark licence agreement to operate the Amathus Holidays brand, which is owned by Amathus UK, since November 2005 although the Greek and Cyprus specialist has been operating out of the UK since 1963.
A deal has now been agreed with Vertical brand YourHolidayBooking.com to operate Amathus Holidays under a new franchise agreement.
Janette Bell, former commercial director of sister Vertical brand Bedbank, is to run Amathus in the UK as managing director
Amathus Holidays will maintain its brand identity and trade as a part of MidCounties Co-op Travel. A new B2B website is due to be launched in mid-April.
Andreas Vasiliou, managing director of Amathus UK said: ”Many operators claim to be specialists but I doubt if any have better local knowledge and experience of these destinations, which has been gained over 50 years of trading as Amathus Holidays.
“I’m delighted that we will be able to continue serving the travel trade through this new franchise agreement with YourHolidayBooking.com.”
Vertical Group chairman Peter Healey said: “We are delighted to be given this opportunity. Amathus Holidays is a well respected brand and we look forward to presenting the brand to the market, providing a quality and luxury product to the travel agent community through our B2B activity.
“Janette Bell brings with her over 20 years industry and local knowledge and experience especially in the field of luxury tour operation for Cyprus and Greece.“
Midcounties Co-operative Travel group general manager Alistair Rowland added: “The Co-op consortium is delighted to work with Janette and Peter with Amathus Holidays. The specialism and drive will be a real asset in driving this business and supporting volume for Amathus Holidays a great brand in itself.”