Travel Corp. goes up the river with deal for Uniworld.An affiliate of Travel Corp. has purchased Encino-based Uniworld Global Inc., which claims to being one of the world's largest river cruise River cruise is a voyage up and down a river/rivers touching at a series of ports. River cruising is a form of traveling in the inlands waterways of the world. Unlike large ocean cruise liners, river cruise ships are usually smaller vessels, generally accommodating between 100 and operators, for about $75 million, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a source told of the transaction. In a statement, Travel Corp. confirmed the purchase but did not disclose details of the transaction. The company has been renamed Uniworld River Cruises SA and will continue to operate independently. Travel Corp., based in Bermuda, owns Trafalgar Tours Ltd., which runs guided luxury bus tours of Europe, Asia, Australia, Canada and the United States The United States and Canada share a unique legal relationship. U.S. law looks northward with a mixture of optimism and cooperation, viewing Canada as an integral part of U.S. economic and environmental policy. . "The addition of Uniworld to Travel Corp.'s group of companies will create tremendous synergy among the various brands," its president, Michael Ness, said in the statement. Uniworld was founded in 1976 by Serba Ilich, who will remain as non-executive chairman, "enabling him to pursue personal opportunities," according to the Travel Corp. statement. Ilich didn't respond to messages left for him at Uniworld. In the statement, he said he believed the purchase will allow the company to expand its operations. Brian Stevenson, currently Uniworld's chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , has been appointed as president and chief executive, with responsibilities for day-to-day operations. He did not return calls seeking comment. The company's main competitor is Woodland Hills-based Viking River Cruises Inc. The two firms account for nearly a third of the world's river cruise business. Jeff Dash, Viking's president, said he viewed Uniworld's acquisition as an affirmation that the river cruise industry is healthy. "This is about people trying to become part of one of the fastest growing segments of the travel industry," he said. "Still, it's too early to say if this will spark a consolidation within the industry." "The river cruise industry has been around 25, 30 years," he said, "but its renaissance has really been in the last five years." River cruises, which use luxurious ships similar in amenities to ocean cruise lines
Name Headquarters A'rosa Europe NCL America America AIDA Cruises Europe American Cruise Lines America , have become increasingly popular in Europe and Asia. The cruises, which meander meander Extreme U-bend in a stream, usually occurring in a series, that is caused by flow characteristics of the water. Meanders form in stream-deposited sediments and may stack up upstream of an obstruction, resulting in a gooseneck or extremely bowed meander. inland waterways The list of waterways is a link page for any river, canal, estuary or firth. International waterways
|
|
||||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion