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:
"JMB Travel has an excellent reputation for providing a high
quality service and a wide range of options for opera and music
festival fans, which is demonstrated by the high number of repeat
customers. We will work with the company to broaden their customer
base, both through building their presence on the internet and by
pursuing new opportunities."
Enquiries:
| Christopher Mottershead |
|
| Travelzest plc |
01442 874 322 |
| |
|
| Emma Kane / Samantha Robbins |
|
| Redleaf Communications Limited |
020 7822 0200 |
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