Cox & Kings sells Explore Worldwide Limited to Hotelplan UK Group
The Cox & Kings Group (“Cox & Kings” or “the Group”) has – through its Holidaybreak plc subsidiary – sold 100% of the issued and outstanding shares of Explore Worldwide Limited for GBP 25.8 million to Hotelplan UK Group.
Explore Worldwide Limited (which includes the brands Explore – soft adventure tours – and RegalDive – diving adventure specialist) 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)”.
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