Business Recovery

ReSolve supports SME travel firms in H1

Resolve conducted the sale of VIP Ski to Vita Brevis Limited which allowed the firm to continue trading

ReSolve, the business advisory and investment practice, has revealed it has supported a number of small- and medium-sized travel businesses during the first half of 2021.

The firm said the sector has been “extremely hard hit” by the pandemic-related travel restrictions and therefore companies have sought out options to preserve their brands and legacies.

The firm revealed that in June, ReSolve sold the brand names and Intellectual Property assets of Travel Day Limited, a UK-based independent tour operator trading as Simply Global Travel, Holiday USA, Caribbean Classics and The Vegas Wedding Company.

In 2019, the company provided holidays for almost 6,000 passengers and processed over 2,700 bookings. Its brand names and Intellectual Property assets have been sold to Serenity Holidays.

In January, ReSolve also sold the business and certain assets of APS-Select Limited, including the trading name ‘VIP SKI’, a tour operator of ski holidays. The sale to Vita Brevis Limited will allow VIP SKI to continue trading.

In addition, also in January, ReSolve sold the brands and certain assets of Go Travel Limited, a family travel agency based in the South East. It said Go Travel had a “strong brand and reputation in its local area” with large numbers of loyal customers and repeat bookings.

It operated three brands – Go Travel Limited, Cultural Breaks, and Coach Holidays. A sale of the brands and Intellectual Property assets was successfully concluded to C.A.M. Property Ltd.

Mark Supperstone, managing partner at ReSolve, said: “This has been a particularly challenging time for the travel industry due to COVID-19 travel restrictions and has led to an influx in travel-related companies coming to ReSolve wanting to understand what their options are.

“The sooner a client engages with us the more options are available such as restructuring, CVAs, divestment of certain brands or assets, and/or pre-pack sales. At ReSolve we pride ourselves in never taking the path of least resistance and always look at all the alternatives to get our clients the best possible outcome for all stakeholders.”

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