Inghams takes majority holding in Russian operator
Inghams Travel, part of the Swiss-based Hotelplan Group, is taking an undisclosed majority interest in Russia’s market leading ski operator Ascent Travel.
Ascent is a leading specialist to Croatia, Italy and Montenegro and is one of Russia’s largest operators. It also offers holidays Spain, France and other countries.
Ascent will continue to be managed by its current director general Boris Burykin, deputy director general Evgeny Sudbin and their existing team.
Hotelplan group chief executive Dr Christof Zuber said: “We are extremely pleased to be embarking on this joint venture with Ascent Travel.
“This gives our organisation exposure in a fast growing marketplace and in a sector where we already have industry leading expertise through Inghams Travel, Britain’s leading quality ski holiday company.
“The logic behind this transaction is compelling; the synergies for these two well-known ski-holiday brands working together are bound to benefit both businesses.”
Inghams’ chief executive Litsa Constantinou added: “This is an exciting opportunity for both companies. We are both leaders in the same sector, I am certain both companies will benefit massively from the tie up.”
Burykin said: “Ascent Travel has a great reputation in the Russian marketplace for providing quality holiday products and working closely with Inghams Travel is bound to enhance the quality of our offering as well as adding to our profitability.”
by Phil Davies
Phil Davies
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