Saga acquires luxury travel firm for over-50s

13th Aug 2014 16:10

Saga on Wednesday bought a majority stake in online travel firm Destinology for an undisclosed sum.The travel and insurance company for over-50s will be able to acquire the remaining shares from the travel firm in the future. Destinology specialises in luxurious holidays to the United Arab Emirates, Far East, Indian Ocean and Europe.Saga's chief executive, Lance Batchelor, said: "Destinology is one of the UK's leading travel businesses with strong expertise in online sales and marketing and award-winning service so we are very pleased to have brought the business into the group."It is an excellent fit with our existing travel brands - Saga Holidays, Saga Cruises and Titan Travel - particularly in relation to the demographic it serves, and will enhance our range of travel offers to customers."Shares in Saga were down 0.01% to 182.98p at 16:00 in London.JF