Lowcostbeds buys Ideal Cruising

Lowcostbeds Group has agreed to buy the cruise holiday specialist agent Ideal Cruising for an undisclosed fee. The company will be wholly owned by accommodation specialist Lowcost and “operated at arms length” once the deal is completed by the end of the year. The Ideal Cruising business, which launched four years ago, is said to have a…

Lowcostbeds Group has agreed to buy the cruise holiday specialist agent Ideal Cruising for an undisclosed fee.

The company will be wholly owned by accommodation specialist Lowcost and “operated at arms length” once the deal is completed by the end of the year.

The Ideal Cruising business, which launched four years ago, is said to have a total transaction value in excess of £28 million and is currently profitable.

Lowcost chief executive Paul Evans said: “We are delighted to have reached agreement with the management team at Ideal to bring them in to the Lowcost group.

There are plans to invest in the management team, technology and marketing programme.

Evans said: “The Ideal trading cycle complements the seasonality of lowcostbeds.com’s core beach and city holidays and together we will create a stronger group.”

Ideal Cruising managing director Tony Youster added: “Ideal has grown rapidly over the last 4 years and we see huge opportunities in the growing cruise sector to further add value to the cruise operators’ distribution models.

“We are delighted to have reached agreement with lowcostbeds.com and the opportunity to further invest in our business and brand.”