The company informed the stock exchange today that it has sold Explore Worldwide Limited to Hotelplan UK group. Explore Worldwide which is a specialist in adventure tours is a part of Holidaybreak which was acquired by Cox & Kings in 2011.
"The sale of this business helps us to further increase our focus on three key verticals - leisure, education and hybrid hotels (Meininger)," said Peter Kerkar, director, Cox & Kings.
Last June the company exited the camping business in Europe, selling the segment held by its subsidiary to French travel company Homair Vacances for about Rs 892 crore.
Cox & Kings acquired Holidaybreak in 2011 for about Rs 2,300 crore and the deal was funded with dollar debt valued around Rs 1,500 crore. A year later, Citi Venture Capital invested $140 million in Holidaybreak, which has two main business segments, education tours and camping.