Yesterday’s announcement to the ASX (Australian Stock Exchange) that Flight Centre Travel Group has acquired Travel Managers Group set the cat among the pigeons in some quarters, however, the acquisition refers to a New Zealand company, Travel Managers Group Ltd (TMG), and not the House of Travel-owned TravelManagers Australia.
The ASX announcement by FLT refers to Travel Managers Group Ltd and Executive Travel Group (ETG), New Zealand’s largest independent corporate travel management company, having both been acquired by Flight Centre Travel Group.
Despite the similarity in names, Travel Managers Group Ltd in New Zealand and TravelManagers Australia are separate companies under different ownership, and have no business dealings with each other. TravelManagers Australia is an independent entity, owned by House of Travel.
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