Travco Group Acquires Stakes In Poland's Alfastar
Thursday, December 18, 2014

Travco Group announced earlier today that it has signed an agreement with Poland-based tour operator, Alfastar, to acquire 30% stake in it. Alfastar is one of the successful mid-sized Polish tour operators specializing mainly in Egypt and other countries. 

Hamed El Chiaty, founder and chairman of Travco Group International announced, “Today we have completed the acquisition of a 30% stake and contemplating to increase that with time.” 

Commenting on this new venture, El Chiaty says, “This marks a steppingstone for expanding our business in the Eastern European source market, thereby enhancing tourism arrivals from Poland to Egypt. We strongly believe in a very positive future and together we will work on increasing Alfastar’s capture of the outbound travel market as we restore confidence to the Egyptian market.”

“We are very pleased by this acquisition as it will also pave the way to further expansion in neighboring countries. We are excited to partner with Alfastar and believe this transaction speaks to the strong financial track record and growth prospects of Travco Group. We are confident that this partnership will benefit our customers and employees as we continue to expand Travco Group’s footprint into new source markets.” El Chiaty elaborated.

In the medium-term, Travco will continue focusing on the Egyptian market. Egypt’s tourism sector is expected to benefit from increased travel demand and heavy infrastructure investments as the country channels all its resources towards the economic growth. In the long-term, Travco Group may seek to expand into other European markets.

Alfastar is an award winning tour operator that specializes in charter traffic mostly in the direction of Egypt. It is also known that they have been granted the Gold Certificate of Reliability not only due to their leading market position, but also due to their impact on the Polish economy. This award for spreading ethical principles in business is a testament to the reliability and credibility of the company making it in line with the Travco Group ethos.

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