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Scott Dunn buys Singapore's Country Holidays to form Asia's largest bespoke tour agency
INTERNATIONAL luxury tour agency Scott Dunn has acquired Singapore bespoke travel company Country Holidays to form Asia's largest bespoke tour agency, the companies announced at a joint press conference on Tuesday.
The London-based company declined to disclose the sum paid for Country Holidays.
Existing customers from Country Holidays can expect a 24-hour hotline for support, as well as an expanded portfolio for European destinations.
In the previous year, Scott Dunn, which also operates offices in San Diego in the US, posted revenue of about S$200 million while Country Holidays posted revenue of S$35 million.
This year, with the acquisition of Country Holidays, Scott Dunn expects revenue to increase to S$290 million.
No cuts in staff strength are expected to take place, said Country Holidays founder Chang Theng Hwee. The homegrown company has close to 60 employees, including those from other offices in Hong Kong, Beijing, Shanghai and Dubai.
Scott Dunn's overall staff strength will increase to over 300 employees.
Mr Chang will be Scott Dunn's new Asia chief executive, and will report to Scott Dunn group chief executive Simon Russell.
Additionally, Scott Dunn said that they are expecting a combined total of 31,000 customers in 2018.
The acquisition of Country Holidays comes after the international brand bought out San Diego-based Aardvark Safaris in 2016.
About 70 per cent of Scott Dunn's revenue comes from the British market. Mr Russell said that after these acquisitions, he hopes for an even one-third split among the three Asian, US and UK markets in the long run.
He added: "Acquiring an operator as established and reputable as Country Holidays step-changes our access to a market with a huge demand for luxury travel experiences."
Ammendment: An earlier version of this story incorrectly said that Scott Dunn's revenue was about S$240 million. Scott Dunn has since corrected its earnings and said that its revenue is in fact about S$200 million. The article above has been revised to reflect this.