Global homeworking agent InteleTravel has acquired a majority stake in long-standing UK tour operator Major Travel for an undisclosed sum. This strategic investment will, according to each party, deliver significant benefits for both companies and their agents.
The investment from InteleTravel will enable Major Travel to grow significantly, while retaining its operational independence. By leveraging InteleTravel’s global agent community, Major Travel will gain enhanced buying power, allowing it to secure exclusive contracts with suppliers.
This, the parties said, will enable all UK and Ireland travel agents to compete more effectively against direct-sell operators, as well as offer significant and unprecedented benefits for all InteleTravel agents working with Major Travel. Major Travel will remain a trade-exclusive operator and has commenced a recruitment drive to double the size of its team by the end of the year. InteleTravel plans to integrate Major Travel’s bespoke premium and luxury long-haul holidays and other inventory into its proprietary booking platform, expanding its product range and creating new revenue opportunities for its network of agents.
This will enable InteleTravel to be more responsive to the needs of its 20,000 advisors in the UK and Ireland, and boost profit margins.
Major Travel managing director Qasim Gulamhusein will retain his shareholding and continue to lead the company, with all current staff and employees remaining in their existing roles.
“Our vision is to become the leading trade-exclusive tour operator in the UK within the next five years. The biggest winner from this investment will be UK and Ireland travel agents, who will gain access to an enhanced product range and an increase in expert in-house advisors for every region worldwide, supporting them and their clients’ itineraries.”
InteleTravel boasts a global network of 110,000 advisors across the UK, Ireland, USA, Mexico and the Caribbean, with a global annual revenue of $2.5bn.
InteleTravel co-founder and president James Ferrara said: “With our core business firmly established in the UK, our goal is to become an integrated powerhouse in the UK travel industry in sales, product, meetings and other services.”
