Traveltek, the East Kilbride-based provider of booking systems for many of the world’s leading travel and hotel businesses, has announced a three year plan to grove turnover five-fold to £25m, open three new overseas offices and create an extra 200 technology jobs.
Traveltek specialises in building and maintaining bespoke booking systems for airlines, hotels, cruise ships, car hire, insurance and holiday operators. Many household travel trade names are clients, including Hay’s Travel, Trailfinders, Co-operative Travel, the Flight Centre, Emirates, Barrhead Travel and Imagine Cruising.
Founded by Kenny Picken in 1995, the business has grown from a start-up to employing nearly 100 staff and turning over £4.3m. The company processes many millions of lines of data every day, and its systems underpin the day-to-day booking operations of a growing number of travel trade businesses across the world.
Traveltek has now unveiled a three year plan to increase turnover to £25m and recruit an additional 200 staff, the majority of whom will be based at the company’s HQ in East Kilbride. Three new offices will be opened in Sao Paulo, Shanghai and Dubai, joining Traveltek’s existing offices in Miami, Sydney and Hyderabad in India, which is a development centre.
The company is seeking growth finance to help drive the expansion, and will shortly start a marketing process to the Venture Capital, Private Equity and Angel communities.
Commenting on the growth strategy, Kenny Picken, who is President and Group Managing Director of Traveltek Group said: “We have a strong position as the booking systems supplier of choice for many of the major travel trade businesses. There is a significant opportunity to leverage that position and develop Traveltek into a major global technology business. Growth finance will enable us to accelerate that process, build a larger global footprint and create a large number of high quality technology jobs, many of which will be in Scotland. The right partner will share our vision and allow us invest in the latest technology, new infrastructure, business systems, business development and new talent.”
Chris Horne, Managing Partner with advisers Campbell Dallas, added: “Traveltek has quietly grown into a significant Scottish technology business, is very profitable and is continuing to grow. Growth finance will enable the business to take a quantum leap forward with its ambitious expansion strategy.”
Last month Traveltek was voted for the second year running the world’s ‘Leading Dynamic Packaging Solutions Provider in the World Travel Awards.
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