Flight Centre Travel Group
(ASX:FLT) has completed its first investment in the hotel management sector.
The retail travel outlet purchased the fast-growing, Asia-based hotel management company, Bespoke Hospitality Management Asia (BHMA).
Flight Centre Travel says the purchase strengthens its in-destination travel network, with a 14-strong hotel management company in Thailand and 19 signed properties under development, in Thailand and Vietnam.
The business also operates a destination management company that generates US$100 million in annual revenue. It offers transfers, day-trips and cruises.
The purchased business also offers a top deck and back-roads touring business.
Shares in Flight Centre Travel Group
(ASX:FLT) are trading 1.17 per cent lower to $42.24.
