Cox and Kings (India) Ltd (CKIL), one of the oldest travel companies in India is set to acquire Tempo Holidays Pty Ltd, Australia’s leading outbound travel wholesaler, for an undisclosed sum. The acquisition will help CKIL gain ground in the Australian travel market. On completion of the deal, ownership of Tempo Holidays will transfer to Cox and Kings (Australia) Pty Ltd, which is an entity controlled by CKIL. However, Tempo Holidays will retain its brand name. Steven Reynolds, will continue as the CEO and Cox and Kings will retain Tempo Holidays’ 100-plus staff, product range and management team. Additionally Tempo Holidays’ focus on travel agents will not change. In terms of the acquisition, one of Tempo’s most attractive qualities is its purpose built booking engine Tempo Holidays Online Reservation (THOR). The current THOR system will be overhauled in the near future with the introduction of a new and improved THOR 2.
Tempo Holidays is owned by Susan and Gary Hearst and is in operation since 1990. It offers travel arrangements in over forty-two countries with particular focus on Europe, UK, the Middle East, India and Latin America. |