Cruise wholesale package specialist Cruiseco to become part of Helloworld Travel Limited. Helloworld Travel Limited has just confirmed an agreement to acquire the Cruiseco consortium from its co-founders Kevin Dale and Phil Hoffmann, as well as current majority shareholder Australian Pacific Holdings. Helloworld Executive Director Cinzia Burnes said the deal...
Checking your subscription…
Subscribe to Continue
You've reached a subscriber-only article.
Subscribe free to Cruise Weekly for unlimited access to all articles, plus our regular newsletter and breaking news bulletins delivered to your inbox.
Cruise wholesale package specialist Cruiseco to become part of Helloworld Travel Limited.
Helloworld Travel Limited has just confirmed an agreement to acquire the Cruiseco consortium from its co-founders Kevin Dale and Phil Hoffmann, as well as current majority shareholder Australian Pacific Holdings.
Helloworld Executive Director Cinzia Burnes said the deal aligned with the company’s strategy of expanding its cruise offerings in Australia and New Zealand.
She said the Cruiseco business was complementary to Helloworld’s existing Seven Oceans Cruising wholesale operation, with the deal to be funded from existing cash reserves.
“These two businesses, when combined, provide Helloworld Travel with a comprehensive range of cruise options for our retail agencies in Australia and New Zealand,” she said. Burnes noted that before COVID-19 hit Cruiseco was transacting about $70 million in annual TTV, while Seven Oceans had annualised sales of about $110 million.
Helloworld Travel has also this morning confirmed a new three year commercial agreement with Qantas.
More details in today’s issues of Cruise Weekly and Travel Daily.
×
Subscribe for Free Access
Get full access to this article and all premium content. FREE forever.
