Cox & Kings has sold 100 per cent of the issued and outstanding shares of Explore Worldwide, for GBP 25.8 million to Hotelplan UK group, through its Holidaybreak subsidiary.
Explore Worldwide Limited, which includes the brands Explore and RegalDive, 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).”
