Sustainable tourism push expected as Green Globe is acquired
LONDON – GTREX Capital, a US holding company with subsidiary operations in the travel distribution industry, has acquired Green Globe.
Green Globe Ltd is a UK company that owns the key brand for sustainable travel, tourism and related businesses.
GTREX Capital has purchased a total of 85 percent Green Globe, Ltd. (U.K.) for an undisclosed sum through a securities purchase and share exchange agreement with two principal shareholders and one minority shareholder.
GTREX Capital expects to purchase the remaining 15 percent of Green Globe, Ltd. (UK), which would be positioned as a wholly owned subsidiary.
The company has also entered into an intellectual property purchase agreement with Sustainable Tourism Development International, an Australian company, for the purchase of the intellectual property rights to the sustainability portal technologies designed and developed by STDI.
The purchase will include the start up of a new Global Travel Exchange initiative that will utilise the STDI intellectual property, according to GTREX.
Geoffrey Lipman, assistant secretary general of the World Tourism Organization, has been appointed to the GTREX board alongside STDI chairman Terry De Lacy, professor in sustainable tourism and environmental policy at Victoria University in Australia.
He was previously CEO of the Sustainable Tourism Co-operative Research Centre, established by the Australian government.
GTREX interim president and CEO Steven Peacock said: “We are thrilled to have Mr Lipman and Dr De Lacy accept appointments to the company’s board of directors and look forward to their active participation in the fostering the growth of the Green Globe brand.
“Given its position as a leader in the field of tourism, we will look to follow the direction of the UNWTO in promoting the development of standards for responsible tourism, sustainable tourism, sustainable tourism for the elimination of poverty, and response to climate change.
“Mr Lipman is particularly well suited to guide us in these areas, and we very much look forward to his ongoing contributions, particularly in the area of global climate change.
“Dr De Lacy’s background as a leader in sustainable tourism and environmental policy for major Australian academic institutions, his experience in both for profit and not for profit settings and his tenure as CEO of the STCRC will provide the company with a unique and invaluable perspective on expanding the Green Globe brand to applications well beyond any currently in use.
“We anticipate that the board will have a very active hand in managing the direction of the company, and these two new directors will help us to grow its worldwide partnerships, joint ventures and other affiliations that will support environmentally responsibility and positive responses to global climate change.â€
by Phil Davies
Ian Jarrett
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