Happy Tour acquires majority stake in Travel House

Corporate travel company Happy Tour has acquired a majority stake in Travel House for an undisclosed sum, the company’s representatives have announced. Happy Tour is 100 percent owned by the private equity fund GED. Travel House is specialized in providing business travel services and national and international deluxe leisure travel, thus complementing the range of services provided by Happy Tour.

The transaction follows the build-up strategy of Happy Tour in Romania, which is aiming to become the largest tour operator company in the country able to offer corporate, online, MICE and leisure services. Travel House exceeded EUR 6 million in turnover last year and posted more than EUR 110,000 in net profit in 2009. The transaction is subject to Competition Council approval, with expected completion later this month.

Anda Sebesi

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