Wings Travel Management takes majority stake in Singapore corporate agency
Global travel management firm Wings Travel Management has sealed a deal to take a majority stake in Singapore’s Olympia Travels & Tours.
The stake, for an undisclosed amount, gives Wings Travel an important foothold in Asia and it will serve Olympia’s existing customers in Asia with immediate effect.
The deal will close some time in the new year, it said.
Olympia Travels serves an international corporate travel client base mostly in the marine and energy sectors with a workforce of 30.
Wings Travel also announced the appointment of Nicole Liang as vice president, Asia Pacific, based in Singapore.
London based Wings has offices worldwide in Europe, the Americas, the Middle East and Africa.
"We have been looking to expand our operations to the Asia Pacific region and this acquisition strengthens our footprint in this region significantly. It also gives us the operational platform to provide complete travel and support services to clients across the whole region through a hub and spoke model," said Wings CEO Tony Sofianos.
"As Wings continues to expand globally, our focus remains on wholly owned and controlled operations versus partner agencies or joint ventures so that we can ensure consistency of service, quality and data integrity."
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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