Flight Centre acquitted 100% of Olympus in 2017. Buffalo Tours and Olympus Tours together generate approximately $100 million in annual revenue.
Flight
Centre Travel Group (FCTG) has taken another step towards its ambition to
become a global travel powerhouse by merging Buffalo Tours, which providers
customised tours in Asia, and Olympus Tours the Americas, a ground operator for
Mexico, Costa Rica and the Dominican Republic.
Flight Centre acquired 100% of Olympus in 2017. Buffalo Tours and Olympus Tours together generate approximately US$100 million in annual revenue.
The
merged DMC will operate under the Discova brand to deliver a range of services
to its partners, including day and extended touring, transportation, educational
travel and MICE (meetings, incentives, conferences, and exhibitions).
Greg
Kitchen, managing director of Discova, said in a statement, “Discova is able to
create tailor-made in-destination solutions. The strong position Buffalo Tours
has had in responsible tourism will be carried into the new brand and
strengthened through further initiatives and implementations across Discova’s
expanding number of destinations.”
Discova’s brand
positioning will be rolled out ahead of its debut at World Travel Mart in
London in November.
On its website, FCTG says its strategy
has been “to create new specialised brands” to allow the company to capture and
grow key market segments.
“In the next period of growth
leading to 2022, one of our goals is to increase our distribution particularly
in lower cost models. This, coupled with productivity gains in our core
consultant model, will see us deliver a global net margin across all our
leisure models.
“No other company has had the physical and philosophical
capability to copy this strategy,” Flight Centre said.