CORRECTION – HOLIDAY EXTRAS
TravelMole would like to clarify that Holiday Extras has NOT ceased trading, as incorrectly stated in the headline on this morning’s newswire.
The story referred to Travel Extras, which ceased trading as of October 19.
Holiday Extras has absolutely no connection with the failed business and continues trading as normal.
We apologise for the error and for any inconvenience caused to Holiday Extras.
Holiday Extras has been trading since 1983 and has since become the market leader in holiday add-ons.
The company continues to go from strength to strength and has launched five new products this year, including an exciting move into the short breaks market.
The company has always traded profitably, currently trades profitably and continues to grow with a turnover of £95 million.
Holiday Extras makes arrangements for approximately 3.7 million passengers per year, selling approximately 500,000 hotel rooms and one million parking bookings per annum.
Additionally, the company insures over half a million passengers a year.
Holiday Extras is the UK’s only one-stop shop for holiday extras and is the largest distributor of airport parking spaces and airport hotel rooms to many of the UK’s leading parking and hotel brands, including Hilton and Intercontinental Hotels Group. Holiday Extras owns Airparks Services Limited, which operates off-airport car parks with over 11,000 spaces at the UK’s major regional airports – Birmingham, Luton, Manchester, East Midlands and Cardiff.
The company is also the sole distributor for National Express’s ‘airport hotel with coach’ programme, and is also a distributor for UK airport lounges, and is major provider of travel insurance.
More recently Holiday Extras has also expanded into Germany with a similar offering.
In March the company announced the completion of a £43 million MBO by the existing management team, backed by Clydesdale Bank (“Clydesdale”).
The £43 million represents the enterprise value of the Company. The Holiday Extras management team, led by Steve Lawrence (CEO) and Elisabeth Hirlemann (COO), now holds 37%; an employee benefit trust holds 16% and the remainder is held by the Company’s original founders, the Pack family.
Phil Davies
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