Helloworld Travel has sold its Los Angeles-based wholesale business to Down Under Answers (DUA), a well-established travel wholesaler based in Seattle.
According to a statement issued by the group this morning to shareholders, neither the sale price or the business are material to Helloworld’s results.
“The sale of the US operations follows on from a management review which concluded that this operation would be better managed locally in light of current circumstances,” the statement read.
“The sale to DUA, which includes a long-term contract to Helloworld’s inbound divisions, presented the best opportunity for consolidation during these challenging times.
“The sale of the Travel2 and Islands in the Sun operations to DUA will ensure that Helloworld will continue to enjoy the booking volumes from the business via its operations in Australia, New Zealand and Fiji when the US and Canadian markets recover.”
Helloworld completed the sale of its US wholesale business yesterday.