MIAMI -- Wrapping up its 17th acquisition in 15 months, Far &
Wide Travel Corp. is maintaining its brisk stride.
According to company executives, the company has not yet
completed its acquisition phase.
"We're on track," said Barry Kaplan, executive vice president.
"We're a year-and-a-quarter into a much longer-term plan of
purchasing world class companies and integrating them in a
systematic fashion."
The Miami-based firm announced the purchase of the tour and
destination management subsidiary of Banks/Sadler Group Ltd., a
London-based travel company, on June 20. A week earlier it had
announced the purchase of Adventure Center, an active travel
specialist based in Emeryville, Calif.
The Banks/Sadler unit, which is called Far & Wide London,
will solidify Far & Wide's ground services infrastructure in
Europe.
As Banks/Sadler, the company provided ground services for Far
& Wide companies Grand European Tours, Lake Oswego, Ore.; Prism
Holidays, Vernon, Ill., and Brian Moore International Tours,
Boston.
Far & Wide owns two other destination management companies,
Intercontinental Travel and Travitalia, both based in Italy. "Part
of providing full service is to have outstanding product delivery,"
said Kaplan. "This gives us control over that delivery."
Successful implementation of Far & Wide's strategy requires
finding a balance between the need for adequate preparation and the
imperative of moving quickly. "Planning is critical," says Kaplan,
"but you need critical mass to make it work. You can't integrate
without units."
According to Kaplan, the company's development is double track.
"When you are making acquisitions, it's an absolute necessity to
integrate them at the same rate," he said. "We must view the world
on parallel tracks and make sure there continues to be a
balance."
Balance is achieved by keeping focused on delivering the
product. "We are operationally driven," said Kaplan.
"Our focus is on the customer. In order to provide a unique
opportunity so the customer wants to come back, we focus on the
details of delivery. The whole integration process is focused on
the operation of the business," he added.
Far & Wide has concentrated the greatest part of its
resources on Europe, the most popular destination for U.S.
travelers, but it also has built strong bases in Australia, South
America and Africa.
Two of its operators, IST Cultural Tours and Adventure Center,
have programs to Antarctica.
Besides those mentioned, Far & Wide companies now include
African Travel; Central Holidays; High Country Passage;
Intercontinental Travel Co.; IST Cultural Tours; Lion World Travel;
Pacific Bestour; Regina Tours; Swain Tours and Downunder Direct,
and Tourlite.