MyTravel Group today said it is to sell World Choice Travel to Travelocity.com a Sabre Holdings company, for $50 million cash.
WCT is MyTravel's US consolidator and distributor of hotel rooms and other travel-related products through a distribution network of web-based affiliates.
MyTravel said that the sale of WCT, which had operating profits of $600,000 and net liabilities of $300,000 at September 30th, 2002, would result in an exceptional profit of £24.7 million.
The group said the sale was consistent with its strategy of disposing of non-core business. Since the beginning of the month, MyTravel has sold loss-making operations in Germany and Poland.
AFP
