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Statement to Australian Stock Exchange – November 13, 2006 Flight Centre Limited Secures New Franchise Deal and Acquisition Option
Flight Centre Limited secures a new franchise deal with one of Australia's largest travel industry franchisees. The deal will see her agencies switch to Flight Centre Limited's Escape Travel brand.
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November 16, 2006 (FPRC) -- ONE of Australia’s largest travel industry franchisees has decided to become part of Flight Centre Limited’s new franchising operation.
Prominent Queensland businesswoman Debbie Giudes, the owner of 10 travel agencies between Brisbane and Cairns, has decided to switch her agencies to Flight Centre Limited’s Escape Travel brand.
Nine agencies previously traded under the Harvey World Travel banner, while the 10th was branded The Travel Professionals.
In addition to the franchising agreement, Ms Giudes and Flight Centre Limited have also agreed a deal that gives Flight Centre Limited an option to acquire the businesses after seven years.
The deal is subject to the businesses achieving various growth targets. The acquisition price is linked to the businesses’ performance, specifically growth in total transaction value and EBITDA, over the period.
Ms Giudes employs 70 people in her 10 agencies. Locations include:
• Four Townsville shops
• Two Cairns shops
• Two Rockhampton shops
• One shop in Mackay and;
• One shop in Brisbane at Arana Hills
Flight Centre Limited is Australasia’s best known travel agency group and now boasts more than 1500 shops and businesses in nine countries. In addition, the company’s corporate travel management network, FCm Travel Solutions, extends to more than 40 other countries through strategic licensing agreements with independent local operators.
Flight Centre Limited’s best known and most successful business is the Flight Centre retail travel brand. Flight Centre specialize in all areas of international and domestic travel. Visit Flight Centre online at www.flightcentre.com.au for flights, Australian Accommodation and hotels worldwide.
Send an email to Margo Shear-Smith of Flight Centre
Keywords:
Australian Accommodation, Flight Centre, Travel
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