Si Holidays to be sold off to reimburse unpaid agents

Closed sign in a shop showroom with reflections - red sign over desaturated background

It’s officially time to say farewell to Si Holidays.

Well, at least to the version of the company currently existing.

The company is looking for “expressions of interest” for the assets of the company.

Yesterday, fellow trade press site KarryOn reported the company has begun looking for buyers, as advertised on the website Dem Asia Group.

The notification is in the form of an ad.

The full ad reads:

South Pacific Fiji and Asia wholesale travel specialist: urgent expressions of interest

Expressions of Interest are sought for the assets of ACN 615 188 746 Pty Limited (formerly Freestyle Travel Pty Limited) (In Liquidation).

The Liquidator is seeking expressions of interest for the acquisition of the company’s trademarks, brands, customer database of over 7,000 travel agents, information technology, software and sales platforms and forward order book.  All assets are being offered on an unencumbered basis.

Interested parties may evaluate the assets following the lodgement of an expression of interest and executed Confidentiality Agreement to Elena Fiakos via email at elena.fiakos@demasiagroup.com by close of business Friday, 16 March 2018.

This follows news that the Australian Federation of Travel Agents (AFTA) had excluded Si Holidays and all associated operational brands from the Supplier Failure Benefit provided by the federation’s Chargeback Scheme last week.

This included Freestyle Holidays, The Collection and Waitui.

In a statement, the AFTA warned that any bookings accepted after 8 March 2018 16:00 will not be protected by ACS and members should not accept credit or debit card payments for this supplier.

Si’s future began to look uncertain when the company confirmed it was in takeover talks with another wholesaler, based in Australia.

The challenges faced by Si Holidays were initially blamed on a ‘consolidating market’ and ‘high operational cost environment’, both of which had affected the company.

Managing Director, Tui Eruera said at the time: “The travel wholesale market has proven to be very challenging environment and consolidation seems like the logical step forward for the company.”

Adding, “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.”

Latest News

  • Cruise

Princess Cruises unveils Sanctuary Collection, Star Princess to sail Alaska in 2026

From the sunny port of Barcelona, the Sun Princess welcomed worldwide media aboard for an update on what’s new and what’s next for Princess Cruises today, 23 April. The setting also doubled as the official naming ceremony for Princess’ first sphere class ship which was live streamed around the ship for all guests to enjoy. […]

  • News

Collette special offers across peak northern summer season

Global tour operator Collette has announced a series of special offers on selected dates across a range of tours in the peak northern hemisphere 2024 summer season. Greece The offers include ‘Greece & Its Islands’ features classics such as the Parthenon as well as the picturesque islands of Mykonos and Santorini. A saving of $700 […]

  • Aviation
  • News

Air India and All Nippon codeshare between the two countries

Air India and All Nippon Airways have signed a codeshare agreement connecting their networks. The new commercial partnership will provide more travel opportunities for customers of both India’s leading global airline and the largest Japan’s largest carrier. Effective from 23rd May, the Air India and All Nippon Airways agreement will see passengers fly to their […]

  • News

A&K offers minimum 18 weeks paid parental leave

A&K Travel Group will now provide a minimum of 18 weeks paid parental leave for both care-givers, setting a new standard for the travel industry. By providing 18 weeks of paid time off for all new parents, regardless of gender, A&K Travel Group is not only enabling parents to spend valuable time with their newborns […]

  • Cruise
  • Luxury
  • News

Seabourn announces Western Kimberley Traditional Owners as Godparents of Seabourn Pursuit

Seabourn has named Western Kimberley Traditional Owners, the Wunambal Gaambera, as Godparents of the ultra-luxury purpose-built Seabourn Pursuit. It is the first cruise line to appoint Traditional Owners as godparents of a ship. Seabourn Pursuit embarks on its inaugural season in the Kimberley region this June. The naming ceremony will take place on Seabourn Pursuit’s […]

  • Luxury

Malolo Island Resort opens brand new Spa

Fiji’s Malolo Island has added another string to its bow – opening its $1.3 million day spa on Thursday, 18th April 2024. (Lead Image: matriarch Rosie Whitton with spa staff) Located at the edge of the resort’s luscious patch of tropical rainforest, the new “Leilani’s Spa” adds another level of elevated experiences to Malolo’s already […]