Cavo Sidero Resort

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Minoan Group has continued its acquisitions with the takeover of Glasgow-based Ski Travel Centre.

The travel agency joins the recently-acquired Stewart Travel Centre at Minoan, which will be officially approved on 31 July. Ski Travel Centre started in 1985 and arranged winter sports holidays to Europe and North America.

Meanwhile, Minoan is confident its resort project on the Cavo Sidero peninsula in Crete will still come to form despite Greece’s economic concerns. Developments have been slowed as Greece prepares for its second election in early June although Greece’s dependency on tourism has secured Minoan’s confidence once a leader is chosen.

“The travel and leisure (T&L) business continues to trade well and commissions and operating profits are on budget. Despite difficulties suffered by the T&L sector in recent months, we believe our skilled and experienced management team is well placed to take advantage and we have identified several businesses and other opportunities,” added Christopher Egleton, chairman of Minoan. The group is set to make more announcements in due course.

By Amanda Greenwood, 31 May 2012, Thursday 12:46 PM

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