COX & KINGS SELLS EXPLORE WORLDWIDE
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The Cox & Kings Group, through its subsidiary Holidaybreak plc, has sold 100 per cent of the issued and outstanding shares of Explore Worldwide Limited for GBP 25.8 million to Hotelplan UK Group.
Explore Worldwide Limited (which includes the brands Explore – soft adventure tours – and RegalDive – diving adventure specialist) generated net revenues of GBP 11.2 million and EBITDA of GBP 2.3 million in FY15 ended March.
Peter Kerkar, Director, Cox & Kings said, “The sale of this business helps us to further increase focus on our three key verticals- leisure, education and hybrid hotels (Meininger).”