Sabre to buy MyTravel business
MyTravel has announced that it has sold another of its US businesses.
The business in question is World Choice Travel (WCT), which is being sold to the Sabre-owned website, Travelocity. Sabre will pay £29.9 million for the business.
The Florida-based WCT is a consolidator and distributor of hotel rooms and other travel-related products primarily in the US, distributed through about 2,300 affiliated websites. It made an operating profit of £400,000 in the year to 30 September 2002.
In a statement, Sabre said the 160 WCT employees would join the Travelocity team.
The deal increases Travelocity’s hotel distribution capabilities by around 20%. Travelocity chief executive, Sam Gilliland said: “Combined with our strong and growing merchant hotel offering, this new asset puts us on a path to additional growth in hotel sales. And, this transaction also offers us additional distribution capabilities for other high-yield products, including our TotalTripSM dynamic packaging and Last Minute Deals.”
MyTravel is refusing to comment on whether it is looking to dispose of all of its US businesses.
The sale of WCT is expected to complete in mid-November, but is still subject to shareholder and regulatory approval.
Read our previous stories:
21-Oct-2003 MyTravel continues to shed non-UK businesses
21-Oct-2003 MyTravel cautious about the future
02-Oct-2003 MyTravel denies disposals pave way for its future sale
24-Sept-2003 MyTravel seat-only business to be sold?
16-Sept-2003 MyTravel secures financial lifeline
12-Sept-2003 Massive changes at MyTravel
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