Mumbai :Travel company Cox & Kings Group today said it has sold 100 per cent shares of Explore Worldwide to Hotelplan UK Group for 25.8 million pounds.
Cox & King sold 100 per cent of the issued and outstanding shares of Explore Worldwide through its Holidaybreak Plc subsidiary, the company said in a release.
“The sale of this business helps us to further increase focus on our three key verticals – leisure, education and hybrid hotels (Meininger),” Cox & Kings Director Peter Kerkar said.
Explore Worldwide Limited (which includes the brands Explore soft adventure tours and RegalDive diving adventure specialist) generated net revenues of 11.2 million pounds and EBITDA of 2.3 million pounds in FY15.
Headquartered in India, Cox & Kings is a holidays and education travel group with operations in 22 countries across four continents.