Australian Pacific Holdings (APH) has sold its share of Inspiring Vacations in a bid to restructure its business for a sustainable future.
The divestment follows APH selling its cruise wholesaling specialist, Cruiseco, to Helloworld.
APH, which is the parent company of APT, Captain’s Choice and Travelmarvel – collectively known as the APT Travel Group (ATG) – sold its interest in Inspiring Journeys to the company’s founders.
The divested companies were not considered to be core assets, according to APH management.
As part of its restructure, the company plans to focus on growing its portfolio of Australian and New Zealand holidays and product development.
“As an Australian, family-owned business that has been delivering amazing travel experiences to customers in Australia and around the globe for over 90 years, we have seen many changes and weathered many disruptions in the travel landscape,” Lou Tandy, director of APH, said.
“My family is committed to ensuring that the companies under the APH umbrella are enduring and sustainable businesses, now and into the future.
“Scaling back in some areas has allowed us to invest in the core drivers of our business, and to innovate in areas where we see significant opportunity.”
The largest company in the APH stable, touring and cruising specialist APT has introduced new travel styles from private air tours to luxury short breaks and walking tours, as well as expanding its offering of small ship cruising beyond the Kimberley to most Australian coastal areas.
Ultra-luxury player Captain’s Choice has built a brand new portfolio of premium local private jet journeys in under three months, and Travelmarvel has bolstered its classic escorted touring range and added new cruise options. Newcomer Travel Glo has brought new local product to market for the first time.
APH has also expanded its board membership to include Baldeep Gill and Claire Hatton. The company’s board is now made up of Simon Jones (chair), Chris Hall (group MD), Claire Hatton, Baldeep Gill, Ross Kemp (group FD), Geoff McGeary OAM, Robert McGeary, Graeme Stubbs, Lou Tandy (nee McGeary), and Peter Wade.
“At times like these, the strength of the APH Group and its composite companies shines through,” Hall said.
“Our people are committed to our customers and APH is committed to our businesses. We provide this through solid financial support, strong governance and oversight, and strategic guidance through the wealth of experience of our directors.
“We believe this is key to our resilience and future-proofing.”