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Motorsport Tickets races off with Travel Destinations
Posted on Wednesday, 14 October 2020 12:12
Motorsport Tickets, part of Motorsport Network, has acquired UK-based Travel Destinations, a tour operator for sports car and historical motor events.
Financial details were not announced.
The deal will extend Motorsport Tickets’ reach within the tickets and travel business segment and accelerate a defined specialism within the motorsport space.
Established in 1996, Travel Destinations operates as an event accommodation services provider for a range of historical races and club car tours, such as the Monaco Classic, Nürburgring 24 hours and the 24 hours of Le Mans.
Headquartered in Hertfordshire, the group also allows customers to view the MG Owner’s Club, Jaguar Enthusiasts and Morgan Sports Car Club.
The acquisition is in line with Microsoft Network’s strategy of expanding Motorsport Tickets into a global platform, which it plans to launch at the end of 2020.
According to the press release, the new product will be able to accommodate fifteen languages as part of its first two-year roadmap.
Mehul Kapadia, chief operating officer of Motorsport Network, said: “Motorsport Tickets' acquisition of Travel Destinations, brings their unique suite of products to our digital ticket platform, complementing our wider Formula 1 and MotoGP [Grand Prix motorcycle racing] travel products already being offered.”
The deal will also complement Motorsport Network’s existing company, Canossa, which organises over 300 premium racing events and tours throughout Italy.
Andrew Melley, founder of Travel Destination, said the transaction would open up the group’s offerings to a wider audience and bring new commercial partners into the business.
Zephyr, the M&A database published by Bureau van Dijk, shows there have been 58 deals targeting tour operators announced globally since the beginning of 2020.
Air Canada agreed to acquire Transat AT for CAD 1.39 billion (USD 1.06 billion) in the largest of these.
Other companies targeted in this sector include the likes of ToursByLocals, Fun Group and Lindblad Expedition Holdings.
© Zephus Ltd