Cox & Kings Group, through its subsidiary Holidaybreak plc., has sold its 100 per cent stake in Explore Worldwide to Hotelplan U.K. Group for 25.8 million pounds (around Rs 258 crore) as a part of the travel and holiday group’s strategy to concentrate on three specific areas.
Explore Worldwide, which includes the brands Explore, the soft adventure tour firm and RegalDive the diving adventure firm, generated net revenues of 11.2 million pounds (Rs.112 crore) and EBITDA of 2.3 million pounds (Rs.23 crore) in financial year 2014-15.
The sale of this business helps the company to further increase focus on its three key verticals - leisure, education and hybrid hotels (Meininger).
Cox & Kings is the longest established travel company in the world since 1758. It operates across 4 continents and 25 countries. In India, Cox & Kings has 12 branch sales offices and 150 Franchisee located across the country.
