FLIGHT CENTRE CONTINUES GLOBAL EXPANSION STRATEGY WITH NEW ACQUISITIONS

FLIGHT Centre Travel Group (ASX: FLT) has made two separate acquisitions in Mexico and Asia after it picked up Olympus Tours and Bespoke Hospitality Management Asia.

The acquisitions follow Wednesday's announcement that the Brisbane-based travel group expects to achieve the top of their targeted range after strong recovery in the second half of 2017.

Flight Centre managing director Graham Turner says the acquisitions are a key part of the group's strategy.

"Expanding our in-destination network is a key global strategy and we are starting to develop strong foundations in this sector through our tour operators, DMCs (destination management company) and hotel management business," says Turner.

"Olympus is an important addition to this network and gives us a DMC in the Americas, to complement our recently expanded presence in Asia, while BHMA provides us with a low-risk entry to hotel management, a sector that we have identified as a key future growth opportunity."

Flight Centre is planning on developing its status as a global DMC through acquisitions and organic growth.

Olympus Tours is a leading Mexican destination management company which will become Flight Centre's second destination management company alongside Asia-based Buffalo Tours. Read more

David Simmons - Business News Australia - 7 July 2017