Media

Travelzest plc, the British online travel group offering specialist travel programmes, is pleased to announce the acquisition of JMB Travel Consultants Limited, a leading UK specialist in opera holidays offering an extensive range of destinations noted for their operas and music festivals.

Travelzest will acquire the entire share capital of JMB Travel for a net cash consideration of £700,000.

JMB Travel's team, led by Jonathan Blizard, has unrivalled experience in catering to the particular needs of the opera and music festival lover. They offer short breaks, longer holidays and escorted tours to over 40 different cities. Destinations include Verona, Budapest, Madrid, New York, Prague, Rome and Vienna.

Jonathan Blizard started JMB Travel in 1986 to meet demand for tickets to key music festivals and since then has built the business to become one of the UK's leading providers of specialist opera holidays. Following acquisition, Jonathan will continue to lead the business.

During the financial year to 31 October 2006 JMB Travel generated adjusted earnings before interest and tax of approximately £170,000 and it is anticipated that it will be earnings enhancing in its first full year of ownership.

Travelzest is building a portfolio of specialist tour operators that are able to provide customers with high levels of service and expert advice on a particular destination, activity or experience. These niche operators offer people a reason to travel, such as an opera festival, an art exhibition, a sporting event or access to an area off the beaten track, thereby making price less relevant in their decision.

Commenting on the acquisition, Chris Mottershead, Travelzest's Chief Executive, said:

Enquiries:

View the full press release in PDF format. (Size: 106 KB)