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Morgan Kelly, Phil Quinlan and Amanda Coneyworth of KPMG Australia, who were appointed as Voluntary Administrators of the Excite Holidays companies on 10 January 2020, have written to Australia-based travel agents to acquaint them with the latest developments.

The companies under adminstration are:

  • Global Travel Holdings Pty Ltd ACN 608 961 986
  • Excite Holidays (Australia) Pty Ltd ACN 613 020 750
  • Global Travel Specialists Pty Ltd ACN 101 298 248
  • Events NG Pty Ltd ACN 150 529 365
  • Travel Serv Co Pty Ltd ACN 600 123 699

“The purpose of this letter to Australian based travel agents is to explain the voluntary administration process and how this may affect you,” the letter starts.

The administrators say their preliminary investigations to date have identified that:

  • The Companies in Australia operate within the Excite Holidays global company structure;
  • The booking platform served travel agents in various jurisdictions, including Australia;
  • The terms and conditions on the booking platform indicate that trading is connected to a Singaporean entity within the Excite Holidays group, being Excite Holidays Pte Ltd.
  • Based on the invoicing arrangements within the booking platform, travel agents based in Australia may have traded with Excite Holidays (Australia) Pty Ltd or / and the Singaporean entity, Excite Holidays Pte Ltd.

“Having regard to the above, travel agents based in Australia with outstanding commissions, rebates, refunds and / or unpaid bookings may be a potential creditor of Excite Holidays (Australia) Pty Ltd,” the administrators advise.

To read the letter in full, see: https://home.kpmg/content/dam/kpmg/au/pdf/creditors/excite-holidays/excite-holidays-letter-to-au-travel-agents-17-january-2020.pdf