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Helloworld Travel Limited (ASX: HLO) have purchased the shareholding of Cruiseco from the existing shareholders including Phil Hoffmann, Kevin Dale and APH. The management and majority of the Cruiseco staff will remain the same.Cruiseco has a 20-year history in the Australian travel industry and is the leading cruise specialist
with a member base of the best cruise agents in the industry. The business was started by the three
original shareholders, Steve Lloyd, Phil Hoffmann and Kevin Dale.

Directors Kevin Dale and Phil Hoffmann said “Being part of a Travel Agent buying group would be the best fit for Cruiseco when the Cruise Industry resumes operations. The Covid 19 crisis has forced rationalisation of the Travel Industry which in particular has severely impacted cruising.”

Nic Cola Cruiseco CEO said “the Cruiseco management have undergone a thorough reassessment of our operations and service delivery during the shutdown. We recognise that post COVID it will be critical to have a robust and effective distribution network to make the most of business
opportunities when Cruising resumes and Helloworld was the perfect fit for that.”

Commenting on the purchase Cinzia Burnes Helloworld Executive Director said:
“We believe the future of cruising is very bright and we are delighted at the opportunity to integrate Cruiseco into our wholesale cruise operations as the “cruise packaging” specialist. We have always  admired the unique propositions of Cruiseco and its creative products. We look forward to working with all Cruiseco members and our cruise line partners to ensure we maximise all future opportunities both in Australia and New Zealand.”

During the COVID 19 crisis, the Cruiseco administration team, under the leadership of CEO Nic Cola
has focussed on support to members and retained a close working relationship with their cruise line partners. In this time of crisis, the membership has remained loyal and strong.

The Cruiseco network is well known for its expertise as the cruise specialists. Cola said that all key
staff had been retained and believes Cruiseco is well placed to build upon its position as a leader in
the Cruise industry in order to capitalise on demand when cruising comes back.”