Saga plc acquires DestinologyWednesday 13 August 2014
Saga plc has acquired a majority shareholding in Destinology Ltd, one of the UK’s leading online travel companies, offering bespoke holidays at five-star hotels and resorts in major international destinations, including the Maldives, Dubai, the Caribbean, the Far East, the USA and Europe.
Saga plc acquires Destinology
With a head office in Bolton they employ over 100 staff in the UK and last year served some 30,000 holidaymakers. Destinology’s well-established online platform attracts over five million visitors a year and has developed a market-leading social media presence, with over a million followers on Google Plus and over two million YouTube views each year and has a strong Facebook and Twitter presence.
Andrew Strong, chief executive of Saga plc’s travel division commented:
“I have been impressed with the quality of the team at Destinology. It is an excellent fit with our existing travel brands: Saga Holidays, Saga Cruises and Titan and as part of the Saga plc family they will benefit from sharing expertise and buying power.
Building on their current plans the Destinology brand, will reach the affluent younger part of Saga plc’s database of 10 million people.
This acquisition is the first since Saga floated and demonstrates our commitment to growing our travel businesses and serving the varied travel needs of our customers. This acquisition is one of a number of key strategic initiatives we prioritised including developing third party cruising and creating a new digital platform.”
Dominic Speakman, who will remain with Destinology as President and who will retain a shareholding in the business said:
“Working with Livingstone Partners on the deal, we felt that Saga presented the most compelling opportunity to take the business to the next level.
This deal will allow Destinology's talented management team to continue to innovate and grow the business working alongside the vast experience of the Saga team. Destinology will retain its distinct identity and absolute focus on quality and delighting customers.
The online skills and flair of Destinology will be married with the financial backing, purchasing clout and huge database of prospects from Saga plc. This will enable Destinology to strengthen its position as the UKs leading luxury tour operator”
Saga plc’s travel division employs approximately 1200 people, selling around 194,000 holidays every year across its key holiday and cruise brands www.saga.co.uk/travel
Titan Travel was acquired by Saga in 2009 and has seen successful growth and product expansion in this time whilst retaining its own brand identity www.titantravel.co.uk
Destinology bookings can be made online at www.destinology.co.uk
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