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Minoan Group in talks to offload agency and raise cash

Hotels
Gary Noakes
18 December 2017

Minoan Group is in talks to offload its Stewart Travel agency and operator business to pay off debts.

'Real consequences will emerge later this year'

Stewart Travel operates nine brands including Golf Kings, My Canada Trips and CruiseKings and runs the travel club for the Unison union. The agency and operator has been in business for more than 37 years and employs more than 250 staff.

The Glasgow-based company said a “firm and credible” offer had been received, “which may or may not result in the sale of the division”. Minoan plans to concentrate on its giant resort hotel project in Crete, which finally received planning permission in June after a decade-long battle.