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JTB puts finishing touches on deal to buy Tour East

October 9, 2014 Corporate, Headline News No Comments Email Email

egtmedia59The massive Japan-based JTB Group has reached agreement with Holiday Tours and Travel for the sale of the latter’s stake in Tour East Group entities, according to reports from Asia.

JTB, currently on a major expansion drive, will take over the Tour East Group operations in Australia, Singapore, Hong Kong, Indonesia, and Malaysia when the transaction is complete. In Thailand the deal will see it acquire a minority interest, just 49% in Tour East there, reports indicate.

In a media release, Tour East said: “The agreed acquisition with JTB would put Tour East on the road to further expansion and growth, as JTB’s unnamedstrong brand will enable Tour East to enhance its business proposition to customers through enhanced global reach, technology, and more comprehensive products and service offerings.”

Earlier this year, JTB acquired Singapore-based Dynasty Travel, appointing Dennis Law global inbound general manager.

JTB was founded in 1912 with a mission to invite and serve the needs of visitors to Japan from overseas. The full name was Japan Tourist Bureau. As the Japanese economy expanded, demand for travel increased among the Japanese people and JTB grew.

The company’s global website notes: “Over the years JTB has acquired a diverse wealth of travel expertise, gathered not only by its well-informed and professional staff but also by its numerous Group companies operating a wide array of business models.

“Today JTB has grown to become Asia’s No. 1 travel agent, with offices in 34 countries and regions worldwide. Its longstanding relationships with customers and business partners have made JTB a company that people trust and look to for great results.”

Written by : William Sykes

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