ITC completes management buy-out

Jennifer Atkinson, CEO of ITC Luxury Travel had completed a management buy-out of the tour operator backed by Paul Pindar and Santander.

The luxury tour operator will remain 100% British under the buy-out, with June Foster from the original founding family retaining a share along with members of the ITC management team.

Pindar has been appointed chairman of the new parent company ITC, The Luxury Travel Group. Je previously spent 26 years at Capita.

ITC, which has revenue of more than GBP47 million and has been running for 40 years, is now looking for acquisitions in the luxury and specialist areas and will also put ‘significant investment into people and systems’, with a strategy focused on organic growth.

Atkinson, who has been CEO of ITC for five years, said: “We are excited about this new phase for ITC. Paul brings huge amounts of experience on company development and shares our ambitions to make ITC the leading luxury holiday provider in the country. We look forward to showcasing stylish holidays, sports tours and the very best hotels with our continued focus on excellence. We have built a brilliant team and we all look forward to leading the business to the next phase of its success.”

Interview: Face to Face with Jennifer Atkinson

Pindar added: “I am delighted to be involved with ITC because the company has a high quality management team which is focused on providing an exceptional luxury travel experience at a competitive price. There are many opportunities to grow our offering in the luxury travel market and I look forward to working with the team to develop products for the benefit of our loyal customer base.”