Panoramic Universal acquires US-based travel agency

New Delhi, Dec 24 (UNI) Panoramic Universal Ltd today said it has acquired Future Travels, a New York-based travel agency, through its wholly-owned subsidiary in the US, making its foray into the United States travel market.

This acquisition marks its diversification in US business where it already owns five hotels with 900 rooms under operation.

''Panoramic has plans to launch a travel portal of its own very shortly. We intend to offer a comprehensive travel solution to our customers right from travel arrangements to staying in our own hotels,'' company's Chairman Sudhir Moravekar said.

''We are also looking at acquiring travel agencies in Europe to compliment the inbound as well as outbound tourism for all these countries,'' he added.

The company is looking ahead to a synergistic drive with the combination of its hotel, time share and travel business. With Panoramic, a business or leisure traveler would have a one window service for all their travel needs, a company statement said.

The company had recently acquired a controlling stake in an Indian travel agency Hi-Flyers Travel Services Pvt Ltd, a travel agency catering to premium corporate and HNI clients like Sharekhan, Akruti Foundation, SSKI, Jam Irrigation, Supreme Industries, Boroughs India and several others.

UNI