Saga acquires majority stake in Destinology
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Saga has acquired luxury specialist agency Destinology, calling it an ‘excellent fit’ for the over 50s brand.
Saga has taken a majority shareholding in Destinology with the option to acquire the remaining stake at a later date.
The takeover will be funded from existing cash resources within the group’s travel business, with the figure not been disclosed.
“Destinology is one of the UK’s leading travel businesses with strong expertise in online sales and marketing and award winning service so we are very pleased to have brought the business into the group,” said Lance Batchelor, group chief executive at Saga.
“It is an excellent fit with our existing travel brands – Saga Holidays, Saga Cruises and Titan Travel – particularly in relation to the demographic it serves, and will enhance our range of travel offers to customers.”
Bolton-based Destinology was founded in 2004 by Dominic Speakman specialising in luxury holidays to the UAE, Far East, Indian Ocean and Europe.
Although predominantly operating online the company has one store in Wilmslow, Cheshire. It also launched a trade booking platform in September to offer hotel and air bookings.
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