Travelzest plc, the British online travel group offering
specialist travel programmes, is pleased toannounce the acquisition
of Captivating Cuba Limited ("Captivating Cuba"), a specialist UK
touroperator offering holidays to Cuba.
Travelzest has agreed to pay £10,001 for Captivating Cuba
and will invest in the business torepay loans (£242,000) and
provide additional working capital. The business reported a
smallloss in the last financial year and Travelzest has already
identified a number of initiatives that itbelieves will result in
the acquisition being earnings enhancing in 2008.
Captivating Cuba offers tailor-made holidays and escorted tours.
It has a team of highlyexperiencedsales staff based in the UK, all
of whom know Cuba in depth and are able to usetheir local knowledge
and expertise to provide detailed advice on planning a holiday to
Cuba.They are supported by a team of representatives and
administration staff in Cuba.
Commenting on the acquisition, Chris Mottershead,
Travelzest's Chief Executive, said:
"Cuba is a fascinating Caribbean island providing customers
with the opportunity to visit Havana, a city with a unique
atmosphere and character together with some of the most beautiful
sandy beaches in the world. While it has grown in popularity for
British travellers over the last few years, Canadians represent the
largest number of visitors to, this, the largest of the Caribbean
islands.
Captivating Cuba is a good example of a business with great
potential. It already sells over 3,500 holidays a year to the UK
market and by linking with itravel2000.com, our Canadian operation,
we will be able to exploit this opportunity further and deliver
strong organic growth over the coming years."
Enquiries:
| Christopher Mottershead |
|
| Travelzest plc |
01442 874 322 |
| |
|
| Emma Kane / Samantha Robbins |
|
| Redleaf Communications Limited |
020 7822 0200 |
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