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Worldchoice TTA takeover

If your thinking of booking a holiday with a worldchoice travel agency think again, they are about to be taken over by the poor mans ABTA the Oxymoron travel trust association.

However their is one question, just where are the tin pot Travel trust association going to get the  £ 6 million from?

If the TTA travel trust association take over Worldchoice, then there will be mass cancellation of  Worldchoice Abta membership and no real benefits for the traveling public, the secretive Travel Trust Association when asked for list of failed members refused. If you are a worldchoice agent be very afraid of this deal, your costs and paperwork are about to go up..

Worldchoice looks poised to be taken over by the  Travel Trust Association in a £6 million deal.

The board of Worldchoice UK, which has 457 agency outlets, has recommended the offer from the 374-member TTA at £2.75 per share rather than an alternative from Global Travel Group owner Stella Travel Services.

Worldchoice said its membership of the Triton Travel Group as a shareholder and founder member will not be affected by the TTA bid.

“Worldchoice members will still receive all the benefits that have been planned through co-operation within Triton and, in particular, the very attractive exclusive deals that Stella Travel Services are planning to roll out to members of the consortia within the group in the near future,” a statement said.

“Provision has also been made for a very attractive financial benefit for members who remain with the consortium and meet specified support criteria.”

Worldchoice shareholders will be asked to vote on the offer at an EGM to be held within a few weeks. A minimum of 75% of shareholders is needed to vote in favour for the deal to be accepted.

TTA founding director Todd Carpenter said: “We are delighted that the Worldchoice board has assessed our offer and agreed to recommend it to its shareholders.”

The considerable benefits that the TTA can offer Worldchoice members, combined with the benefits which Worldchoice can offer, together with its great consumer brand, provides some tremendous assets that can really drive profitability for the members, he said.

Carpenter said he hoped the EGM would be concluded by the end of the month.

He claimed that the blending of the two cultures would be easy as they were already similar. Carpenter stressed that the Worldchoice name would be retained as the retail brand.

Worldchoice chairman Colin Heal said: “The TTA (2007) offer gives a very realistic valuation of our business and with TTA’s plans for investing in the consortium’s future, the board is very happy to recommend to the Worldchoice shareholders that they accept the Offer for their shares.

Worldchoice said the benefits resulting from the merger are:-

*Retention of and investment in the Worldchoice brand;

*Retention of the Worldchoice regional structure and the members’ consultative council;

*Retention of the Peterborough head office and its 23 staff;

*Worldchoice representation on the new combined board.

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Discussion

2 thoughts on “Worldchoice TTA takeover

  1. Where as ABTA is very open in informing the public of any failed agents, the same cannot be said for the travel trust association.

    Carpenter “The TTA has absolutely no intention of forcing Worldchoice members to utilise the TTA’s financial protection system” Of course you are you will be breaking your own rules…

    “We asked the Travel trust for a list of failed TTA members they refused.”

    Does make you wonder what they are hiding, for this reason alone we find them to be untrustworthy and not worthy of public trust..

    Travel Travel

    Posted by travel-travel | February 7, 2008, 4:26 pm
  2. Your comments re the TTA and Worldchoice are incorrect and unfounded.

    The TTA has absolutely no intention of forcing Worldchoice members to utilise the TTA’s financial protection system.

    Any consumer is 100% financially protected when booking with a TTA Member, as we are in the consumer protection business. Clearly this is a benefit.

    A multitude of suppliers, consumers and a host of other interested third parties are informed every time an individual TTA Member enters into an Event of Default. This is not in the least bit secretive.

    The TTA always attempts to deal with consumers, the industry and it’s membership in a professional manner.

    If you have further question regarding the TTA feel free to ask.

    Regards,

    Todd Carpenter

    Posted by Todd Carpenter | February 6, 2008, 5:24 pm

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