VENTURES: Travelstart Sells Its European Operation
Recent Western Cape Business News
Travelstart Global has sold the European part of its operation to a European travel consortium, European Travel Interactive (eTraveli). The deal, effective from February, will not affect Travelstart’s South African business, which will operate as normal.
Travelstart has run its international head office from Cape Town since 2009 and claims to currently be the online travel market leader in South Africa. The company’s founder and CEO, Stephan Ekbergh, says the decision to sell the European arm of its operations was primarily driven by his aim to create a strong online travel brand for emerging markets. He has plans to expand the business to the rest of Africa as well as the Middle East.
"The deal makes it possible for us to focus on markets where we can have a bigger impact and make a greater difference,” says Ekbergh.
The deal means that Travelstart.co.za will own the rights to the global Travelstart brand, and that eTraveli takes over the European brand management and all its operations there.
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