Pricol Travels, a part of the diversified Rs 1,500-crore Pricol Group based in Coimbatore, Tamil Nadu, today announced that it is finalising two acquisitions both in the travel services business with one of them focussed on corporate clientele business.

The Chief Executive Officer of Pricol Corporate Services Ltd, Mr Vikram Mohan, said: “due to non-disclosure agreement entered into with the companies, we are not in a position to provide the names of the companies and the deal sizes. Both the companies are based in North India and compliment our business which is currently predominantly South India centric.”

Addressing a press conference here today, Mr Vikram Mohan, said that the company closed last year with revenues of Rs 100 crore and expects to grow to a Rs 350-crore company within two years. This would be by significantly adding hospitality business to the portfolio, handled through Tamara, and growth of the company from acquisitions.

“These buyouts will be funded through internal accruals of the company and a combination of stake divestment. We believe such a deal will be mutually beneficial,” he said.

Pricol Travels, which would also harness the potential of the group firm Pricol Properties, will add eight new luxury properties under the Tamara Brand. These would be in the form of boutique hotels, wilderness lodges and luxury villas across different locations in south India. Focus will be on places of historical interest, hill stations, forest corridors and beaches, all of which would make for ideal family getaways.

The company is developing a 50-acre project at Thorapally in Mudumalai forest as a jungle resort, he said.

Through a strategic partnership with CruiseBay, the company commenced cruise promotions and offers customised holiday options, he said.

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