Tourvest Sells Starlight Cruises
Tourism Investment Corporation Limited
Registration number: 1996/008144/06
Share code : TRT
ISIN: ZAE000012472
(`Tourvest`)
TOURVEST SELLS STARLIGHT CRUISES
Johannesburg, 9 November 2004 - Tourvest announced today that Starlight Cruises
had been sold to the founding Foggitt family with effect from 26 October 2004
for an undisclosed cash sum and the assumption of the business`s liabilities by
the buyers.
`Starlight is a specialised cruise operation, and now that it has reverted to
being a general sales agent, it does not meet Tourvest`s risk/reward criteria,`
divisional managing director Jonathan Gerber said.
In light of this sale, the restructuring of the Tourvest group`s outbound travel
services division, designed to strengthen its market position, has continued
with a number of senior management appointments.
Moira Smith, had been recruited as managing director of Tourvest Tour Operators,
comprising Absolute Tours and ATO, while Teresa McNeill, had been appointed to
the new position of managing director: leisure. Gavin Stevens, previously
managing director of Tourvest Retail Travel`s coastal region has been appointed
managing director of TRT`s inland region. Morne du Preez, who previously headed
Seekers` Gauteng operation, takes over the TRT coastal region. TRT includes
American Express, Seekers, Seekers Lesedi, Maties, Indojet, PulaNala and AATB.
`The new-look management team reflects our commitment to retaining our strong
position in the corporate sector of the retail travel market while driving for
greater penetration of the leisure sector. On the tour operator side, we`re
refocusing on our core businesses and their mission of providing value-adding
services to the travel industry,` Gerber said.
For further information call
Jonathan Gerber on 083 440 8263
Issued by du Plessis Associates on behalf of Tourism Investment Corporation.
dPA contact Kathy du Plessis Tel : +27 11 728 4701, Fax: +27 11 728 2547,
Mobile: 083 266 5847 or e-mail: tourvest@dpapr.com
Date: 09/11/2004 05:26:02 PM
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