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FCM Travel Solutions acquires Travel Tours Group

Led by Shravan Gupta, TTG is a four decades old company offering travel services ranging from leisure, corporate travel, MICE, visa, etc.

, ET Bureau|
Last Updated: Oct 06, 2016, 01.18 PM IST|Original: Oct 06, 2016, 01.14 PM IST
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The partnership will bring onboard TTG’s brands Travel Tours, Travel Air, Travel Air representations, etc.
The partnership will bring onboard TTG’s brands Travel Tours, Travel Air, Travel Air representations, etc.
NEW DELHI: FCM Travel Solutions, the Indian arm of the Australia–headquartered Flight Centre Travel Group (FCTG) has announced the acquisition of South India based travel company the Rs 750 crore Travel Tours Group (TTG) in a cash and stock deal. Led by Shravan Gupta, TTG is a four decades old company offering travel services ranging from leisure, corporate travel, MICE, visa, inbound to wholesale and foreign exchange.

Rakshit Desai, managing director, FCM Travel Solutions said: “We are thrilled to welcome TTG into the Flight Centre family. This partnership propels us into a Rs 3,000 crore enterprise and one of the top three players in all the core travel segments we operate in. India is poised to become one of the world’s major travel markets and this partnership will enable us to achieve our goal of being the largest customer focused travel player in the country.”

Shravan Gupta, MD, Travel Tours Group, who joins the board of FCM and assumes leadership of the leisure business said: “We are very excited to be a part of the Flight Centre group and confident that our combined strength will help achieve our ambitious growth plans at a much faster pace. I’m personally looking forward to leading the leisure business, sharing insights and product knowledge, as well as gaining from the global best practices of the Flight Centre group."

FCM stated the combined strength will give FCM India over 1,600 travel professionals across 44 locations in 16 cities. The partnership will bring onboard TTG’s brands Travel Tours, Travel Air, Travel Air representations, Splendour Holidays, Go Avenues and portal www. mustseeindia.com.

Based on FY16 results for Flight Centre, the combined India business surpassed the South African market to become Flight Centre’s sixth largest country by sales behind Australia, the USA, the UK, Canada and New Zealand.

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