ALTAMONTE SPRINGS, Fla., Sept. 29 /PRNewswire/ -- Tourico Holidays® announced today that it is significantly expanding its global presence, forming subsidiary companies in 20 countries and renaming its Hong Kong operation to match the branding of its other international offices.
Companies have already been formed in 16 of the 20 countries. "The remainder of the offices will be operational by the end of 2010," said Bob Fischer, CFO of Travel Holdings, Inc.
The global expansion coincides with a period of strong growth for Tourico Holidays. The company reports that as of July 2010, it has experienced the following year-over-year gains compared to July 2009:
- A 30 percent increase in gross profits;
- A 30 percent increase in gross revenue;
- A 29 percent increase in bookings; and
- A 25 percent increase in room nights booked.
Tourico Holidays has also hired 109 people around the world since October 2009.
"With headquarters in Orlando and employees in 33 locations worldwide, we have always considered ourselves a global company and have served clients and partnered with hotels around the world for years," said Uri Argov, President and CEO of Travel Holdings, Inc. "These new companies will allow us to grow rapidly enough to meet the demand from our customers and provide them an even higher level of service. It will also help us broaden our relationships with travel providers and hoteliers in many corners of the globe."
Learn more at WTM 2010 in London, England Tourico Holidays has moved to the Global Village booth: GV465
About Tourico Holidays
Tourico Holidays (www.TouricoHolidays.com) is a subsidiary of Travel Holdings, Inc., a worldwide travel distribution company. Tourico Holidays is a global wholesale travel provider with over 150 international distribution websites and more than 23,000 merchant hotel agreements, operating in 23 languages in over 100 countries. As a supplier to over 4,300 tour operators and travel agents, Tourico Holidays operates and maintains global websites and online interfaces that serve a large diversity of travel sellers.
About Travel Holdings®
Travel Holdings, Inc.® (www.travelholdings.com), one of the most distinctive and expansive travel distribution companies in the world, was created in early 2004 through the merger of Tourico Holidays®, LastMinuteTravel.com® and Travel Global Systems (TGS). Travel Holdings® uses proprietary technology to supply travel inventory at competitive pricing, integrating with all segments of the online travel industry including retail, wholesale, group, travel agents, corporate and affiliates. The company is a truly global organization with headquarters in Orlando and additional local offices across the United States, South America, Europe and Asia.
SOURCE Tourico Holidays