Holiday group acquire Trust Accommodation
Online accommodation supplier the Trust Accommodation has been acquired by Centurion Holiday Group (CHG) for an undisclosed sum.
CHG was formed late last year from the ashes of Indigo Holidays, a tour operator which management closed in August.
The major shareholders are Associated Newspapers and Trust Accommodation chief executive Haim Perry who both have a 38% stake.
Trust Accommodation sales and marketing director John Harding has also taken a “minor shareholding” and becomes CHG chief executive while industry consultant Roger Allard has a 7.5% stake. He also becomes a non-executive board member.
Harding said the deal will give Trust Accommodation financial backing in the increasingly competitive accommodation-only sector.
“In order to compete with some of the major players you need resources,” he said. “We have had a successful year but some competitors have bottomless pockets. This will give us, if not bottomless pockets, greater buying power and a level of commitment that is extremely important.”
He added that in light of the recent “dilution of customer financial protection”, any agent booking with Trust Accommodation is fully protected.
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