Holidaybreak sells West End Theatre Bookings arm for £10.9m
Tuesday 21 June 2011
Holidaybreak has sold its London-based theatre tickets business in a £10.9m deal as it looks to cut its debt pile and focus on its education arm, which organises travel trips for schools.
West End Theatre Bookings, which made £1m in operating profits on revenues of £20.3m in the 12 months to September, has been sold to Encore Tickets, a multi-channel theatre booking company. The combined entity will have 120 staff spread across offices in London and Guildford, with sales forecast to climb above £100m within the next year.
Holidaybreak's chief executive, Martin Davis, said: "The sale demonstrates our commitment to strengthen the education share of the group."
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