Helloworld Travel has announced the sale of its wholesale business Insider Journeys to Eight at Work Holding, a member of an international inbound tour operator group with multiple DMC operations in Southeast Asia.
The Insider Journeys business, previously known as Travel Indochina, was founded by Paul Hole and Mark Bowyer and changed its name to Insider Journeys in 2015.
Specialising in Asia, the wholesale business offers small group tours to Vietnam, Cambodia, Laos, Thailand, China, India, Sri Lanka, Japan, Burma, Mongolia and Bhutan, along with tailormade holidays to the whole of Asia.
Insider Journeys also operates a range of speciality river cruises in India, Myanmar, Cambodia and Vietnam.
Helloworld CEO and managing director Andrew Burnes noted the decision to sell Insider Journeys was made due to it not being core to the company’s future strategy and advised a preferred supplier agreement had been agreed to with the purchasers.
The transaction was completed on 30 June 2019. Neither the purchase price or the business are material to Helloworld’s financial results.
The sale of Insider Journeys comes not long after Helloworld acquired New Zealand sports travel specialists the Williment Travel Group.