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September 2022, Virtual
September 29 2022, Virtual
Market leading hotel booking agency Expotel has bolstered its conferences and events division with the acquisition of Venues Event Management (VEM).
Chief executive Ian Burnley told ABTN that the purchase – for an undisclosed fee – was just the latest step in the company’s aggressive growth strategy.
He said VEM would become part of the Expotel group, but would continue to trade under its existing name.
“We are building on the strength that we’ve always had in the hotel bookings segment,” he said.
“We’ve had a good-sized conference events division, but wanted to take a step up to be among the top few in the UK, so I’d been looking for a sensible addition.”
He predicted the deal would elevate Expotel into the top five players in the conferences and events sector.
Burnley said VEM “ticked all the boxes” in terms of finding the “ideal parter”, and insisted he had no problem with the multi-brand strategy.
“It was a perfect fit. We have the technology to take the business forward and take business away from the larger players. We have more scale, we’re financially stronger and, most importantly, we have the technology the can benefit from.”
Anita Lowe, VEM’s chief executive, said: “The management teams and service cultures fit well and Expotel has developed some great technology which will enable us to continue to develop our client relationships.”
Burnley said Expotel would remain on the acquisition trail as economic conditions improved.
“I think the M&A market will open up after a tough few years, and we are still looking to acquire.”
“This is our fourth acquisition following the management buyout in 2008. We have a clear acquisition programme in mind and will continue to look for businesses and teams that fit our growth plans and culture."
Last year Expotel bought LateMeetings.com.