NLG to purchase MyTravel's US Cruise Division
Jim Cassidy
there are many on these boards that have cruised with MyTravel and it's
affiliated companies. This proposed sale has no effect on your reservation
if you have a cruise booked through any of MyTravel's US cruise agencies
(CruisesOnly, CruiseOne, Cruises Inc., etc).
Jim Cassidy
CruisesOnly
1-800-CRUISES
October 20, 2003 11:31 AM US Eastern Timezone
National Leisure Group Announces Plan to Acquire MyTravel's U.S. Cruise
Division
BOSTON--(BUSINESS WIRE)--Oct. 20, 2003--National Leisure Group, Inc. (NLG),
a leading leisure travel services company, today announced a definitive
agreement to acquire the U.S. cruise division of MyTravel Group PLC. Under
the terms of the agreement, NLG will pay approximately $110 million in cash
for the purchase of the cruise business.
The combined business will be the premier provider of vacations and cruises
in North America - with more than one million customers in 2003. The
companies operate under several well-known travel brands including:
CruisesOnly, 1-800-CRUISES, Cruises.com, and Vacation Outlet.
"We are thrilled about this combination and the benefits that it will allow
us to deliver to our loyal customers and cruise line partners," said Brad
Gerstner, President and co-CEO of National Leisure Group, Inc.
The companies will reserve further comment until the acquisition closes,
which is expected to occur in November, 2003.
About MyTravel Group PLC
MyTravel Group PLC has 15 million customers from 24 countries around the
world. The Group operates over 80 principal brands, 93 hotel and resort
properties, 52 aircraft, four cruise ships, and employs more than 29,000
people. The Group has market-leading positions in leisure travel in the
U.K., Scandinavia, and North America. MyTravel Group PLC is listed on the
London Stock Exchange.
Information on the Cruise Business
The Cruise Business is headquartered in Delray Beach, Florida and sells a
broad range of cruise vacations to destinations throughout the world,
distributing products for all of the largest cruise lines. The Cruise
Business operates under the following five principal brands in North
America:
-- CruisesOnly, a distributor of cruises through a network of six U.S. calls
centers under the telephone number 1-800-CRUISES and through the Internet at
www.cruisesonly.com and www.1800CRUISES.com;
-- CruiseOne, a distributor of cruises through a network of over 400
franchisees;
-- Cruises Inc., a distributor of cruises through more than 400 at-home
independent contractors operating on an individual basis;
-- Ship 'n' Shore, a retail and wholesale distributor that sells both
cruise-only and mixed cruise/land tours in Alaska, Europe, the Caribbean,
the South Pacific, and Hawaii; and
-- Landry & Kling, an organizer of cruise incentive trips and at-sea company
meetings with products targeted toward Fortune 500 and other large
corporations.
About National Leisure Group, Inc.
National Leisure Group, Inc. (NLG) is a leading leisure travel services
company. The company provides consumers with high-value and flexible
vacation and cruises through its own brand, Vacation Outlet, and through its
many brand partners. NLG also provides technology, operations support, and
private label fulfillment solutions to many online and offline retailers of
vacation packages and cruises. NLG is headquartered in Woburn, MA, with
sales and service operations in Woburn, MA and Virginia Beach, VA. For more
corporate information, visit www.nlg.com. For outstanding vacation deals,
visit www.vacationoutlet.com.