A WIN FOR EVERYONE

Flight Centre Limited (FLT) and Intrepid Travel have released details of a new structure for their adventure travel joint venture. As part of their ongoing strategy to grow the adventure travel market, the companies have signed a commercial agreement relating to the My Adventure Store (MAS) retail network, which has operated under joint ownership since 2008. The new agreement will see Flight Centre take ownership of MAS in Australia and continue to invest in the business’ growth as a dedicated chain of adventure travel retail stores. While Intrepid becomes a key preferred product supplier to the MAS network. The 17 stores that currently make up this agreement will be divided between the two companies with FLT taking on MAS’s Australian, Canada and Wellington stores and Intrepid retaining the Auckland and Islington stores as part of its branded concept store model. Staff will transfer either to Flight Centre or Intrepid Travel. Melanie Waters-Ryan, FLT CEO, said: “This new agreement cements the long-standing relationship between Flight Centre and Intrepid. Both companies see solid growth opportunities in adventure travel and will continue to work together to capitalize on these opportunities. Noting that the agreement was a logical progression for the two companies, James Thorton, managing director for Intrepid Travel, said: “We both win with this agreement.” He noted that: “Flight Centre is a retail expert, while Intrepid delivers fun, affordable and sustainable adventure holidays to travellers around the world. Moving forward this allows us to focus on our strengths while retaining our close ties in order to grow the adventure travel sector.” The changes are effective immediately in Canada and New Zealand and will apply from Sept. 30 in the UK and from Dec. 31 in Australia.