On The Beach takes offline chance with £20M Classic Collection deal
On The Beach will develop a new travel agent-only platform Classic Online while engaging in offline business.
On The Beach, one of the U.K.'s high-profile, mid-tier online travel agencies, has paid £20 million to acquire fellow British company and buy out its management and private shareholder ownership.
The company made £2.6 million in EBITDA during its latest reported accounts in late-2017.
Some five million beach trips are booked offline the U.K. each year, On The Beach says, so the company wants to capture some of that activity at the same time as growing the Classic Collection portfolio.
This will coincide with the development of a new travel agent-only platform (Classic Online) that will also feature dynamic packaged trips from On The Beach alongside the existing Classic Collection product.
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