Flight Centre Strengthens Offerings With Two Acquisitions
by Richard D'AmbrosioAustralia-based Flight Centre Travel Group Limited (FCTG) this week announced it has agreed to acquire a Mexico-based destination management company and a Thailand-based hotel and resort manager.
FCTG will purchase 100% of the shares of Olympus Tours, strengthening its in-destination offerings in Mexico, the Dominican Republic and Costa Rica. This is FCTG’s second DMC acquisition. It purchased Asia-based Buffalo Tours in 2014. Services include transfers, excursions and day-trips, arrangements for meetings and incentive groups and land arrangements for cruises and other tour groups.
In a press statement, the company said Olympus represents an opportunity for further expansion into mainland USA and Hawaii and into neighboring markets in the Caribbean and in South and Central America.
FCTG also acquired Bespoke Hospitality Management Asia (BHMA), a Thailand-based regional operator of 14 design and lifestyle leisure hotels and resorts. BHMA also has 19 signed properties under development in Thailand and Vietnam. This marks FCTG’s first investment in the hotel management sector.
