Portman to buy P&O Travel
Portman Travel has agreed in principle to acquire the assets of P&O Travel from Carnival PLC.
The acquisition will increase Portman’s busness by around 30%.
Portman Travel turned over approximately £200m in 2005 while P&O Business Travel billed approximately £60 million in the same period.
Both are shareholders of Radius, the global network of travel management specialists.
Portman chief executive Graham Flack said: “We know P&O Travel well via Radius. The two businesses share a passion for high levels of professionalism and a commitment to providing service via local teams with local focus.”
He said Portman has a proven track record of successfully integrating other travel management companies into its business, including AA Business Travel, John Cory Travel and Travelforce.
“Increasingly, customers are demanding both the cost-effectiveness that comes with scale and the high levels of customer service and flexibility associated with independents,” said Flack.
The deal will be finalised after a period of consultation over the next few weeks. The terms of the deal are not being disclosed.
P&O Travel has offices in London, Heathrow, Southampton and Liverpool plus client implants.
By Bev Fearis
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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