Travel Agents

TravelManagers’ parent company attracts new investors

The House of Travel group is welcoming in a new era with the announcement of Sinclair Investment Group and Tailorspace as its new long-term equity investors.

House of Travel founder and executive chairman Chris Paulsen (pictured above) said it was important for the group to attract equity investors who share the same vision and see a bright future for its travel brands, which include TravelManagers and Hoot Holidays in Australia.

“The significant investment of equity capital allows House of Travel to strengthen its balance sheet and liquidity position to trade through the uncertainty created by COVID-19, and to then take advantage of the significant opportunities that will arise once conditions normalise,” he said.

“We have faced numerous external challenges over the years, but the reality confronting the travel industry today is that COVID-19 will likely continue to impact sales and earnings for at least the next 18 months.”

Paulsen said that both Sinclair Investment Group and Tailorspace have strong business, philanthropic and family interests, which he noted were key attributes for being a natural fit with House of Travel group.

The Sinclair Investment Group is the family office of the Edgar family as established by Sir Eion and Lady Jan Edgar. They have a range of business investments as well as several charitable endeavours across education, sport, the arts and health.

The Edgar family have also been loyal House of Travel customers for years.

“Our family has always been impressed with the House of Travel group and have been long term users of their services,” Eion Edgar said.

“Their culture is very similar to the one we have established at Forsyth Barr: if you look after your clients, they will look after you.”

Founded in 2007 by Ben Gough, Tailorspace manages an investment portfolio of companies providing them with financial support, business management and governance expertise.

Gough said he knows from firsthand experience the quality of people involved with House of Travel, their commitment to superior service and the consistent delivery of a good product.

“We are excited to be investing in a company with such a strong people-centric culture,” he said.

“We know the Edgar family personally, their values and know that they, too, are another New Zealand family that shares our commitment to partnerships and strengthening the New Zealand economy.”

Paulsen emphasised that the new equity investors in House of Travel will not change the existing partnership arrangement between the group and its NZ owner-operated outlets or its Australian businesses, with Paulsen Holdings retaining its majority shareholding.

“In the last three months, we have endured our most difficult time in our 30-year history,” he said.

“Although the uncertainty of COVID-19 disruption remains, this strong support shown by the Edgar and Gough families will ensure the House of Travel group is successful in navigating these unprecedented times, and will continue to deliver exceptional customer service and retain our leadership position in the home-based travel distribution throughout Australia.”

SEE WHAT PEOPLE ARE SAYING

Leave a Reply

Travel Agents

AFTA and CLIA welcome WA government’s $3m support package for travel agents

While Western Australian agents are breathing a sigh of relief, those in other states and territories have no doubt turned green with envy over this new funding.

Share

CommentComments

Wholesalers

Chimu’s James McAlloon nears finish line of mammoth fundraising trek

Kudos to James for enduring shin splints, exhaustion, sore feet, sunburn, and two weeks of quarantine in a remote South Australian hotel, all for a good cause.

Share

CommentComments

Tourism

Destination NSW marketing boss to join Australian Tourism Data Warehouse as CEO

Jan Hutton is already mulling over embossing or debossing her new business card after snaring the top job at ATDW.

Share

CommentComments

Cruise

Why did Tom Cruise just charter two Hurtigruten ships?

Get ready to have the Mission: Impossible theme song stuck in your head for the rest of the day, because apparently the ships were hired for the latest movie in the franchise.

Share

CommentComments

Hotels

You can now stay in the mansion from The Fresh Prince of Bel-Air

Pull up to your very own kingdom for the night and sit on the throne with this nostalgia-riddled Airbnb listing from The Fresh Prince himself.

Share

CommentComments

Travel Agents

Agent Wrap: AFTA members join National Mobilisation Program, TravelManagers agent celebrates 15 years + MORE

To celebrate the fact that it’s Friday, we’ve made you an extra special Agent Wrap! And it’s not JUST special because we forgot to post one for the past few weeks.

Share

CommentComments

Aviation

Tickets for Qantas’ epic seven-hour scenic flight sell out in 10 minutes!

by Huntley Mitchell

Qantas reckons it’s “probably the fastest-selling flight” in The Flying Kangaroo’s history.

Share

CommentComments

Hotels

Hotel Wrap: W Melbourne on the lookout for 100-plus staff, Preferred welcomes 13 new hotels + MORE

Know a teammate who’s getting behind on the latest news in accommodation? Send them a link to this week’s cracker of a Hotel Wrap.

Share

CommentComments

Wholesalers

“This downtime has really opened our eyes”: GFOB’s Gai Tyrrell on supporting agents (and much, much more)

by Huntley Mitchell

Globus family of brands’ regional boss has shared everything that’s going on with the wholesaling giant right now and in the future with yours truly.

Share

CommentComments

Destinations

Regional Victorians wake to eased travel restrictions

by Christian Fleetwood

Finally, Victoria’s tourism industry has something to cheer about. Let’s hope the Andrews government continues this positive momentum.

Share

CommentComments

Destinations

Tripadvisor names the hottest domestic travel destinations for spring

GOOD NEWS: it looks like Aussie travellers are getting set for a spring fling in the great outdoors! Click here to find out where and how they’ll be travelling.

Share

CommentComments

Cruise

Carnival sells two more ships, cancels more Aussie sailings

Are you looking to purchase your own personal floating city? Well, keep your eyes peeled, because Carnival has accelerated its removal of less-efficient ships.

Share

CommentComments