Published on Monday, June 29, 2009
SYDNEY - APT has acquired a majority stake in UK-based GW Travel (GWT), the operator of long-distance luxury rail tours by private train.
GWTâ€™s flagship train, the Golden Eagle Trans-Siberian Express, is Russiaâ€™s only private luxury train.
APTâ€™s premium tour brand, The Captainâ€™s Choice, is a leading customer of GWT.
Geoff McGeary, APTâ€™s founder and owner, said, â€œAPT is the Australian/NZ market leader in cruising in Russia. The Golden Eagle train will be the perfect accompaniment.â€
The day-to-day management of the 20-year-old GW Travel business will stay with the current directors, headed by Tim Littler (founder), Iain Dacre (managing director) and Marina Linke (operations director) who will remain fully involved with the business and retain a substantial shareholding.
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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.