About Us
Share Price
89.50 GBp
-2.00 | -2.19%
Latest News
20 June 2008
30 April 2008
History & Structure
Travelzest is constantly developing its portfolio by adding carefully selected online travel agencies and specialist tour operators.
History
Chris Mottershead launched the Travelzest concept in 2005, using VFB Holidays as the founding business. He then floated the business on AIM (Alternative Investment Markets), and then swiftly added Holiday Express and Best of Morocco to the portfolio. As the former MD of TUI UK and a seasoned manager in the travel sector, Chris saw the opportunities brought by the internet, as well as the threats brought to the traditional tour operator business model. He recognised that the best way to build up a valuable business was to take a portfolio approach with a dual focus on acquiring specialist tour operators in the fastest growing niches of the market and also providing customers with the best available tools to research and book a great holiday online through easy-to-use online agencies.
Structure
From this beginning, the business has evolved into two divisions: specialist tour operators and online travel agencies, spanning the UK and Canada. The business is the process of reviewing potential targets in both portfolios.
Each business is expected to stand profitably on its own feet, but there are several benefits to being part of the same group. These include cross-selling, access to central expertise and cost saving opportunities.
| Specialist tour operators | Online travel agents |
|---|---|
| VFB Holidays – award winning tour operator specialising in French cottage holidays, escorted tours and river cruises | itravel2000.com – high growth business based in Canada, selling vacations to destinations such as Mexico, Caribbean and Europe |
| Best of Morocco – upmarket tailor-made holidays to Morocco and the premier agenct for the Marathon des Sables | Holiday Express – UK online ageny business comprised of holiday.co.uk and flight.co.uk. |
| Peng Travel – the UK's leading provider of naturist holidays around the world | Fair's Fare – One of the leading firms of airfare analysts, offering an unique travel planning service to both private and corporate clients travelling in first and business class cabins |
| Faraway Holidays – start-up focusing on premium holidays in the Far East | |
| Tapestry Collection – specialist in bespoke luxury holidays in Turkey, Crete and Cepahalonia | |
| Wow House – specialist UK accomodation provider offering an exclusive portfolio of large prestigious houses to rent for short breaks | |
| Captivating Cuba – tailor-made holidays and escorted tours to Cuba | |
| JMB Travel – specialist in music festival tours, with an emphasis on opera | |
The following sets out chronologically the development of the Travelzest group so far:
| 2005 | |
| April | Chris Mottershead launched the Travelzest concept using the VFB Group plc, a company listed on OFEX (now the PLUS market) |
| May | Shareholders vote to change the name of VFB Group plc to Travelzest plc |
| October | Travelzest plc begins trading on AIM |
| October | Acquired Holiday Express for £3.3 million net. A leading UK online travel business and owner of the holiday.co.uk and flight.co.uk domain names |
| December | Acquired Best of Morocco for £1.8 million net. Offering high quality, tailor-made holidays to Morocco and the premier agent for the Marathon des Sables |
| 2006 | |
| April | Colin McKinlay joins as Group Finance Director and Nishma Robb joins as Group Distribution Director, responsible for the development of the group's online strategy |
| May | Acquired Peng Travel for £1 million net, including £700,000 of cash in the business. The UK's leading naturist tour operator |
| June | Acquired Fair's Fare for £5 million net. The UK's leading firm of airfare analysts, offering a unique travel planning service to both private and corporate clients |
| August | Faraway Holidays, a specialist in tours of the Far East, launched by Travelzest |
| October | Acquired itravel2000.com for £24.5 million net. The largest acquisition to date and transformational for Travelzest. It introduced significant winter revenues, balancing the seasonal profitability of the group, and a new online distribution platform |
| November | Acquired assets of Tapestry Travel Limited from administration for £55,000 net. A specialist in holidays to Turkey and Crete |
| December | Mark Molyneux appointed chairman. A former member of the main board of Ernst & Young [UK] |
| December | Acquired The Wow House Company for £95,000 net. A start-up company offering an exclusive portfolio of large prestigious houses to rent for short breaks in the UK |
| 2007 | |
| January | New flight.co.uk website launched |
| January | The Tapestry Collection relaunched |
| August | Acquired Captivating Cuba for £252,000, including debt. A tour operator specialising in quality tailor-made holidays to Cuba |
| August | The Travelzest Charitable Trust received approval from the Charity Commission (registered no: 1120730) |
| September | Acquired JMB Travel for £700,000 net. A leading UK specialist in opera holidays |
