Not a happy time for Happy Tour

Postat la 28 aprilie 2009 36 afişări

There was nothing standing in the way of business travel development about a year ago. The first few months of 2009, however, dealt a heavy blow to the agencies that relied on business people; their traffic has gone down to almost half of what it was last year and expectations for the rest of the year are hardly optimistic.

The first year in the portfolio of GED investment fund was complicated for Happy Tour. The agency almost lost its leading position on the travel market, changed its management and organisation, and, to top it off, travel budgets were cut. This cut managed to halve the market in the first few months of the year. Actually, quite few of the expectations of Gabriel Ionescu, general manager of Happy Tour recruited by GED Eastern Fund II to run a future group of travel agencies intended to be the undisputed leader of the market, came true. GED’s plans at the moment it recruited Gabriel Ionescu were made soon after the takeover of the leading travel agency, Happy Tour (December 2007, in a deal put at 10 million euros), which should have been followed by other acquisitions on the business travel market. Meanwhile, GED’s plans changed, and the investment fund told BUSINESS Magazin ”currently we are not considering (to buy i.e.) any Romanian travel company,” and that ”in six months, we expect to complete one or two new deals, though none of them related to travel industry,”

 


Traducere de Loredana Fratila-Cristescu si Daniela Stoican

 

Urmărește Business Magazin

Am mai scris despre:
Tourism,
Happy Tour,
business travel,
bm english
/bm-english/not-a-happy-time-for-happy-tour-4244029
4244029
comments powered by Disqus

Preluarea fără cost a materialelor de presă (text, foto si/sau video), purtătoare de drepturi de proprietate intelectuală, este aprobată de către www.bmag.ro doar în limita a 250 de semne. Spaţiile şi URL-ul/hyperlink-ul nu sunt luate în considerare în numerotarea semnelor. Preluarea de informaţii poate fi făcută numai în acord cu termenii agreaţi şi menţionaţi in această pagină.