Are the big players interested in buying smaller agencies? Well, it depends on who you ask.
WALTHAM, Mass. — It’s a partnership that just makes sense. StudentUniverse, the world’s leading travel booking service for students and youth, has been acquired by Flight Centre Travel Group, one of the world’s largest travel agency groups, reports Business Wire. The latter has more than 30 brands in 11 countries in its portfolio.
The move is mutually beneficial. Flight Centre’s reach and infrastructure will allow StudentUniverse to grow within existing markets, while StudentUniverse will allow Flight Centre to expand its presence in the important youth and student market (18-26 year olds).
“The student and youth market is one of travel’s fastest-growing sectors. Young travellers are critical to the entire industry and StudentUniverse has a proven track record in the space. They understand the demands of a young, tech-savvy user base and have incredible roots in technology,” said Dean Smith, president of Flight Centre Travel Group Americas. “Combining their technology prowess with our global team and resources, I am confident that together we will change the course of student and youth travel.”
StudentUniverse, launched in 2000 and headquartered in Boston with offices in Toronto, London, New York and the Philippines, will continue to operate as an independent entity.