It’s never a good feeling to write a story about a wholesaler facing uncertainty, but such is the nature of the game.
Si Holidays has confirmed the company is in takeover talks with another wholesaler, based in Australia.
Due to NDA requirements, Si Holidays is not at liberty to announce the incoming party, however, can advise details will be released in the immediate future.
Talks have commenced owing to the recent challenges faced by Si Holidays in a consolidating market and high operational cost environment which has affected the company.
Managing Director, Tui Eruera said “The travel wholesale market has proven to be very challenging environment and consolidation seems like the logical step forward for the company.”
Eruera also adds, “It is no secret that we have experienced several customer service issues over the past three months.
“This is predominately down to our recent implementation of VCC and the move to source all product dynamically.
“Our pursuit of automation within the business has proven costly and a takeover will bring the required boost back to the business to continue this pursuit.”
Last week Si Holidays announced a host of trading changes to begin the process of bringing the business inline for the incoming party.
More changes will follow over the next eight weeks to allow a seamless transition upon a successful deal.
The move follows a series of acquisitions and mergers in the industry, the most recent being Helloworld acquiring Magellan.
Just yesterday, Scenic Luxury Cruises and Tours scooped up US-based Mayflower Cruises and Tours.