Club Travel Group Southern Africa’s service travel firm has been wholly acquired by Travelstart for an undisclosed sum.
Travelstart announced the intention to acquire the Club Travel Group and its subsidiaries in June 2019 and the deal was subject to the approval of South Africa’s Competition Commission. The transaction has now been formally completed and approved.
The acquisition will boost Travelstart’s offering by adding new complementary corporate and franchise divisions to its portfolio. Club Travel will continue as a standalone company within the Travelstart portfolio.
Thebe Tourism Holdings (Thebe) sold its majority stake in the Club Travel Group to Travelstart and the two have jointly invested in the firm for further growth.
“We are thrilled to officially welcome Club Travel as the newest member of the Travelstart family,” said CEO Stephan Ekbergh. “Together we will continue to concentrate on building the best place for people to plan, book and manage travel.”
Club Travel’s Managing Director and founder Wally Gaynor said, “We are delighted to join Africa’s leading online travel agency and we know that Travelstart’s knowledge and footprint will help us ensure a sustainable future for Club Travel in an increasingly technology-dependent market.”
Africa’s travel and tourism industry is worth an estimated $194 billion and digitisation among consumers is still g