Another listed travel group

Travel Bulletin - - STATE OF THE INDUSTRY -

THE evo­lu­tion of Western Aus­tralian min­ing firm Red Gum Re­sources into The Aus­tralian Travel Group is be­ing keenly watched by the in­dus­try, with the com­pany say­ing it ex­pects to be­come a “sig­nif­i­cant player in the leisure and tourism in­dus­try”. Agree­ments have been signed for the ac­qui­si­tion of WA travel busi­nesses Hol­i­day Planet, Asia Es­cape Hol­i­days and Mo­tive Travel, which com­bined will record $110 mil­lion in TTV for the 2015 cal­en­dar year. The deals will be funded by a cap­i­tal rais­ing in which 15 mil­lion 20c shares will be is­sued, with a prospec­tus to be lodged shortly and plans for sig­nif­i­cant ex­pan­sion of the busi­ness into Aus­tralia’s east coast.

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