Happy Tour's strategy after two acquisitions in tourism

Javier Garcia del Valle, the CEO of the biggest travel agency on the Romanian market, Happy Tour, controlled by Spain's GED investment fund, plans to expand the company's operations to Bulgaria, Hungary, Serbia, after strengthening the company through the acquisition of the biggest online plane ticket online agency, Paravion, and of Travel House agency. "The takeover of the two companies was the first development stage for Happy Tour. The second stage of our strategy entails expansion abroad (...)," stated the CEO of Happy Tour, a company with 29m-euro turnover last year. GED, which took over Happy Tour in late 2007, at that moment announced it would invest 15m euros in the company and the acquisition of other travel operators in 2008-2011. According to Garcia, the two acquired companies will keep their names and operate independently of Happy Tour, but their businesses will complement Happy Tour's. "The group formed by putting the three companies together will become the biggest travel operator in the country on corporate services, online, travel programmes and the conference, meeting, event segment. Some new opportunities have emerged on the market. I'll try to maximise created synergies and drive the group with 135 employees to 70-80m euros," Garcia said.