Travellers Choice grows stake in worldwide network

Travellers Choice grows stake in worldwide network
By admin


Retail group Travellers Choice has revealed plans to expand its stake in the Worldwide Independent Travel Network (WITN) which represents more than 6000 travel agency members in over 30 countries.

The firm became a minority shareholder in the global network in 2010, after eight years as a WIN member, joining four other retail groups located in the UK, Canada, Germany and South Africa.

However, the Canadian shareholder recently became ineligible  for membership following its sale, TC chief executive Christian Hunter revealed, with the Australian firm subsequently offered the opportunity to grow its stake.

"We will acquire additional shares in each year of the next three years and by the end of the 2014/15 financial year, Travellers Choice will be on an equal footing with WIN's other three shareholders," Hunter said.

"As an equal partner, we will have more influence over the development of WIN's products."

Those products include WIN's hotel program which is exclusively accessed by Travellers Choice members in Australia.

"WIN has performed extremely well in recent years, generating good profits," Hunter said. " As out shareholding grows, so too will our financial return allowing for an even greater benefit to Travellers Choice members."

 

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