Flight Centre Acquires YQB-Based Les Voyages Laurier du Vallon
Bruce Parkinson, Open Jaw
Flight Centre Travel Group (FLT) has strengthened its North America presence through the acquisition of leading Quebec City-based travel company Les Voyages Laurier du Vallon (LDV).
The company says the move will significantly strengthen FLT's presence in Quebec, Canada's second largest province and a market where FLT was previously under-represented.
FLT managing director Graham Turner says the acquisition will fast-track the company's growth in another key global location.
"Quebec is a large and attractive market for FLT, but our ability to expand and grow market-share in this province has, until now, been constrained," he said. "By working with LDV, we will be able to leverage the business's local expertise, experience and linguistic capabilities to grow our presence in Canada's second largest market, which is a major corporate hub and home to a large and active leisure travel population.”
Flight Centre’s President in Canada John Beauvais added that the acquisition is an integral part of the Canadian growth strategy. “We are thrilled to be working with LDV, an established company in a market where we see enormous potential.”
LDV was established in 1963 and has become one of the largest independent travel agencies in Quebec. The privately-owned business, which has six locations across Quebec City and one in Montreal, currently employs about 100 people across its three core business units which include:
A five-shop luxury leisure travel business that generates about half of LDV's sales
A strong corporate business that operates out of Quebec City and Montreal and generates about 40% of group sales
An emerging MICE business
The businesses will continue to trade as LDV, to capitalize on the brand's strong presence in Quebec. Current LDV general manager Nicolas Racine will continue to run the business and will become part of FLT's senior leadership group in Canada. He will report to FLT's president in Canada, John Beauvais.
The FLT Canada business now has a presence across eight provinces -- British Columbia, Alberta, Ontario, Nova Scotia, Manitoba, Saskatchewan, Newfoundland and Quebec.
Bruce Parkinson Editor-in-Chief
An observer and analyst of the Canadian and international travel industries for over 25 years.