The Hindu Business Line : Sita in talks for buying cos in UAE, Nepal

KUONI India's inbound division, Sita, is in talks for acquiring companies in Nepal, United Arab Emirates (UAE) and India, the company's Chief Operating Officer, Mr Himmat Anand, said here on Thursday.

"In Nepal we would look at acquiring an adventure company. In the UAE it would be premature to say anything just yet as we will be starting from the scratch. We are open to everything. We are looking at acquisition even as we talk," Mr Anand said.

The COO added that hopefully the company would make an announcement on acquisition within the year itself.

While refusing to comment on what quantum of funds had been set aside for the acquisition plans, Mr Anand indicated that funds should not be a problem if the acquisition is reasonably priced and is considered right.

Besides, Sita is also entering new businesses including offering free individual travellers (FIT) travel products, setting up call centres and entering medical tourism under the brand name Sita Care.

"Sita has used the past few years to consolidate its position as India's no.1 destination manager, and we are now ready to grow by focussing on geographic expansion and on innovation in business. We aim to become no.1 destination manager for Sri Lanka, Nepal and UAE," said Mr Ranjit Malkani, CEO for South Asia and the Middle East, Kuoni Travel Group.

Mr Anand said that the company would launch luxury holidays by Sita in July this year which would focus on the high-value tourist who would be willing to spend Rs 1,00,000 or more.

The company hopes to handle only about 500 high value clients and plans to initially focus on the markets in the US and the UK.

Besides, the company is to diversify into Spa and wellness tourism and plans to launch its brochure next month for select Spa destinations in India and the sub-continent.

The basic price for a seven-day package is likely to start at Rs 1,00,000 per person. The company is targeting 200 upmarket leisure travellers in the first year and expects to report a turnover of Rs 2 crore from this alone.

The company hopes to report foreign exchange earnings of Rs 210 crore during 2005 up from Rs 120 crore during 2003.

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