Dubai travel services firm dnata has reached an agreement to purchase a stake in the Destination Asia Group, it has announced.
The deal marks the firm’s first foray into Asia’s inbound travel market, it said in a statement.
Destination Asia Group is an leading destination management company (DMC). It was formed in 1996 in Thailand and Vietnam and has since expanded to cover 11 Asian countries.
It will become part of dnata’s family of travel businesses, which includes Stella Travel Services, Gold Medal Travel Group, Travel Republic and additional investments in Hogg Robinson Group, said the statement.
"Our stake in Destination Asia opens the door to business opportunities in new markets, and will strengthen dnata’s position as a global player in travel,” said Iain Andrew, Divisional Senior Vice President of dnata’s travel business.
“Already a valued partner to dnata, the Destination Asia Group has an impressive track record, in-depth regional expertise and a strong network. In Destination Asia, we have found a great partner who shares our passion for excellence, and we are confident that we will reap success from this relationship.”
The deal follows other recent high-profile transactions by dnata in travel, including a majority stake in Imagine Cruising in 2015.
“We are very honoured to be joining the dnata family,” said James Reed , the CEO of the Destination Asia Group . ”Our 11 country network with 33 operating offices perfectly complements dnata’s expansion plans. Our 700 plus award-winning staff are highly regarded in the industry and deliver the same high standards of service as dnata, every day of the year.
“Our diverse, multi-market segment expertise, and our international market distribution systems will enable Destination Asia to continue to deliver creative and cutting edge travel experiences in Asia . With dnata as our partner, we are confident that the Destination Asia Group will achieve even greater success in the future .”For all the latest travel news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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