leisure pass group
2 weeks ago
 

Attraction platform providers merge to form Leisure Pass Group

Three online sightseeing pass providers have come together to create what is being touted as the largest player in the space.

Leisure Pass Group is the umbrella company over Smart Destinations, The New York Pass and the consumer-facing LPG business of the same name.

The creation of the company has come about after Exponent Private Equity brought the three together.

Financial terms of the merger have not been disclosed.

Existing LPG boss Ted Stimpson will assume control of the combined business.

He says the the trio of the brands had “well over $300 million in revenue” in 2016.

The three companies will continue to operate as independent brands and will operate in more than 30 destinations around the world.

They are forecast to handle 12 million attraction visits as a result of the merger.

The deal comes just six months after Smart Destinations was sold to Big Bus Tours for what was believed to be a deal in the region of $50 million.

Transaction sees BBT no longer in an ownership position and New York Pass added to the portfolio.

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Kevin May

About the Writer :: Kevin May

Kevin is senior editor and a co-founder at Tnooz. He was previously editor of UK-based magazine Travolution and web editor of Media Week UK from 2003 to 2005.

He has worked in regional newspapers (Essex Enquirer) and started his career at the Police Gazette at New Scotland Yard in London. He has a degree in criminology, a postgraduate diploma in magazine journalism and publishes his first book - a biography about Depeche Mode - in 2017.

 

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