riviera travel agency sales

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Updated: 'business as usual' at riviera travel as it goes up for sale.

Riviera Travel is reportedly being put up for sale for £250 million.

Riviera Travel, founded in 1984, is set to go up for sale after its majority owner, Phoenix Equity Partners, hired the professional services firm PwC to find new investors, the company has confirmed to TTG .

The auction comes less than three years after founder Michael Wright, 61, sold a majority stake to Phoenix, valuing the operator at £120 million.

Private equity sources said a sale would value Riviera at about £250 million, the Times reports.

Riviera made a £9.2 million profit in 2015 on turnover of £126 million, according to its most recent set of available accounts.

In a statement sent to TTG this morning, Riviera Travel said that with the introduction of a new collection of tours for solo travellers launched last year, an enhanced land tour portfolio with 13 new destinations this year as well as the launch of brand new all suite 5-star river cruise ships, "the business continues to grow".

Riviera said it was following strong expressions of interest from potential buyers, that Phoenix had decided to appoint PwC "to assess strategic options for the business".

Ben Hitchcock, sales and marketing director, added: "It’s normal for private equity investors to seek to realise their investment within a three to five-year period and so it’s business as usual for everyone here at Riviera Travel, we just see this as another stepping stone as we continue to focus on our customers and grow the business."

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Riviera Travel reports trade sales growth of 50%

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Riviera Travel has reported that trade sales so far this wave period are up 50% on last year.

The river cruise and escorted tour specialist attributed the growth to greater engagement with agents and its focus on strengthening its trade team.

Vicky Billing, head of trade and partnerships, said: “These results are testament to the hard work we have put in to build our trade partnerships and demonstrate what a brilliant job travel agents are doing to spread the word about Riviera.”

More: Riviera Travel to appear in ‘Cruising with Susan Calman’

Chris McCloskey will join the operator as key account manager for Scotland and Ireland on Monday, January 22, when Lloyd Morris will start as key account manager for the UK and Ireland.

River cruises have been selling particularly well through the trade, according to Riviera trading director Stuart Milan.

The top-selling itineraries have been The Blue Danube; The Douro, Porto and Salamanca; and Rhine Cruise to Switzerland.

The best-selling tour has been Classical Spain, with the new Grand Journey products also proving popular – the trips to Canada and India are in the top 10 best-sellers.

Billing said: “We know there is scope to grow even further, which is why we are focused on ensuring our trade team is set up to provide agents with whatever they need.”

As part of Riviera’s wave incentive, agents who make a booking are entered into a giveaway draw featuring prizes including all-expenses-paid escorted tours.

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Riviera Travel strengthens agency sales team

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Riviera Travel has appointed Amanda Weir as agency sales support, as part of the company’s wider expansion of the agency sales team. 

Formerly based in the operations department of the business, where she worked in tour manager relations, Amanda will provide travel agents with the support they need, in her new role.

“We are so pleased to have Amanda joining the agency sales team and know that she will bring a lot of support and assistance to our travel agents when it comes to events, training and enquiries,” said Joseph Grimley, head of agency sales. “It’s very important for us to build and strengthen our internal team so our agents have support and guidance with someone at the end of the phone who they know and trust.”

‘I’m really excited to have joined the agency sales team and to be a part of this growing arm of the business. I have had a great experience working for Riviera Travel so far and I am looking forward to working directly with the agents and to spread my enthusiasm in the team,” said Amanda.

The operator has been focusing on growing the department over the past six months, with Amanda’s move, along with Tamzin Bishop’s agency sales executive appointment and the promotion of Tom Morgan to key accounts manager earlier this year.

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• Agent Incentives

Riviera Travel to reward travel agents with peaks incentive

Riviera Travel is giving travel agents the chance to win vouchers as part of its latest trade incentive.

Agents can earn a £50 lifestyle voucher for every Riviera Travel river cruise booking made on sailings departing in April, May and June 2022.

The offer applies to all bookings made up to 28 February 2022.

A total of 14 itineraries are eligible, with cruises covering countries such as France, Italy, Germany, Portugal, Hungary and the Netherlands.

Voyages include the eight-day Douro, Porto and Salamanca cruise, featuring eight guided tours and visits; the five-day Amsterdam, Kinderdijk and the Dutch Bulbfields itinerary, as well as the eight-day Burgundy, the River Rhône and Provence cruise.

To claim the voucher, agents should send their confirmed booking number and preferred email address to [email protected] .

Riviera Travel head of agency sales UK & Ireland Tom Morgan said: “The trade have once again been brilliant for us this year, backing us throughout the last 12 months. We want to say a huge thank you for all their support.

“Our £50 offer is a way of continuing our appreciation. And with so much choice available, we hope the vouchers will be snapped up by our agent partners, as their customers set their sights on a 2022 river cruise or two.”

In November 2021, Riviera Travel launched its 2023 European river cruise programme .

The operator is preparing to run 299 cruises, across 14 itineraries, departing from March to November. There are six sailings exclusively for solo travellers.

Speaking at the time, the line’s head of cruise Katja Hildebrandt said: “From the Douro to the Danube, and the Rhine to the Rhône, we’re pleased to be able to offer an extensive range of river cruises along Europe’s most incredible waterways during 2023.

“We’ve launched our European programme earlier than ever before to help meet demand for these stunning sailings.”

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