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Deal to broaden 'loyal' agents' beach holiday portfolio

Deal to broaden 'loyal' agents' beach holiday portfolio

The total cost to the On the Beach group will run to £14.6 million, with £2.7 million deferred for 12 months and another £2.7 million allocated in shares.

 

Classic’s existing management team, led by managing director Nick Munday, will continue to run the business while collaborating with the OTA to deliver Classic Online.

 

On the Beach chief executive Simon Cooper hailed Classic’s “excellent reputation” throughout the trade, adding the collaboration would allow the OTA to secure a share of the five million short-haul beach holidays sold offline each year.

 

Munday added the partnership would give Classic’s “loyal network” of agent partners access to a wider portfolio of mainstream beach holiday product and luxury options.

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