Published on Monday, June 25, 2007
Kuoni Group is to acquire luxury villa and ski operator CV Travel for an undisclosed sum on July 1.
CV Travel is currently owned by John Boyle, also founder of Direct Holidays and Zoom Airlines.
Established in 1972, CV Travel originally specialised in renting private villas in Corfu, but has since expanded into many other areas throughout Europe with a key focus on Greece, France and Italy.
It has recently added long-haul destinations such as Morocco, Oman and the Caribbean.
First class private villas are offered by its 'Owners’ Syndicate' brand, with an emphasis on long-haul, particularly the Caribbean.
Meanwhile, 'Ski Verbier' offers top quality hotels and luxury ski chalets in Verbier, often with their own chefs.
The company’s products are sold primarily direct but also through some independent travel agents.
Its turnover was £14.7 million last year and it employs 40 people.
Kuoni intends to maintain the CV brands and retain the present management team and staff.
CV Travel will remain an independent unit as part of the Kuoni UK group of companies.
Sue Biggs, managing director Kuoni UK, said: “CV Travel is an aspirational brand that offers the very best in luxury travel. In addition, its strength in the independent villa market, particularly in Europe, adds welcome depth to Kuoni UK’s mix of specialist companies and products.”
By Bev Fearis
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The recent insolvency of Low Cost Travel Group, one of the large players in the travel industry had a big impact on the travelers, hotels and all related players from both wholesale & retail arms. There were about 27,000 people on a holiday who had booked through the company comprised of a €200 million wholesale arm and €500 million OTA / retail arm.