BRITISH GIANT BUYS SUNQUEST
By Adnews Staff
Canada's largest independent tour operator has sold out, but it says this will make it even bigger and stronger. Sunquest Vacations Ltd. has been completely taken over by British-based Airtours PLC which bills itself as "one of the largest travel conglomerates in the world. Airtours is a public company which owns tour operators, travel agenciee, airlines, a hotel chain, cruise ships and shops. The purchase price for privately-owmed Sunquest was $79.8 million. When asked yesterday what the deal does for Sunquest, corporate affairs vice-president Jill Wykes answered, "It just gives us more muscle." She said that Airtours' industry knowledge and financial strength will give a boost to Sunquest's strategy of Canada-wide expansion, which began last year when the Toronto-based company bought Silverwing Holidays of Vancouver. This brought Sunquest business in B.C., Alberta and Washington state. The company says it currently has 25% of the package holiday market flying out of Ontario and about 10% across Canada. Sunquest president and CEO Leo Desrochers said in a release that it will be "business as usual" at his company. He will continue in his current position and his executive team will remain in place. Sykes said the new ownership won't have an impact on the marketing and advertising direction of Sunquest which handles all its advertising in-house. With a budget in the millions, Sunquest runs extensive advertising and promotions, she said. "And it's really worked for us."