One of Trustpilot’s top travel brands offers its own search engine, luxury cruise program, group travel pipeline, and access to additional travel agents
Acquisition is highly synergistic and expected to accelerate growth
SANTA FE, NM / ACCESSWIRE / November 5, 2024 / NextTrip, Inc. (NASDAQ:NTRP) (“NextTrip,” “we,” “us,” or “our”), a leading travel technology company, announced today that: We announced that. The company has signed a non-binding letter of intent (LOI) to acquire Five Star Alliance, an online luxury travel agency founded in 2004 and known for its curated collections. 5 star luxury hotels and resorts around the world.
Key 5-star properties include:
Unique search engine with the lowest prices for over 5,000 luxury hotels and resorts around the world
Established relationships with preferred suppliers and industry leaders
luxury cruise program
Group travel pipeline
20 years of reputation and authority
Five Star Alliance is dedicated to helping travelers discover and book the world’s top luxury hotels, providing personalized recommendations, competitive rates, and world-class customer service. known. The company also handles group travel bookings and luxury cruises, with a proprietary search engine that ensures the lowest prices on thousands of five-star hotels around the world. With an industry-leading customer satisfaction score of 4.9 stars on Trustpilot, well above the travel industry average, Five Star Alliance has an excellent reputation in the luxury travel sector.
As one of the world’s largest collections of luxury hotels and cruises under one brand, Five Star Alliance’s 20 years of market reputation, visibility, and recognition give NextTrip a wealth of established relationships, media influence, and press. It has become a valuable brand with coverage. As the first pioneers of e-commerce hotel booking, both the Five Star Alliance brand and domain are considered prestigious and highly relevant by both search engines and the media. Over our 20-year history, we have helped build over 5,000 contract rates created directly and across consortia, cruise and hotel programs.
The Five Star Alliance booking engine provides a single, streamlined feed that integrates aggregated and scaled inventory from various distribution channels and rate sources. This combined opportunity provides unprecedented content and rate options for travel bookers.
All key Five Star Alliance employees will remain with the business and join the NextTrip team following the closure.
“Our plan to acquire one of the industry’s most highly regarded luxury travel companies is highly synergistic with NextTrip’s technology-driven platform,” said NextTrip CEO Bill Kirby. “We are building on the Five Star Alliance’s track record, integrating key programs and creating new opportunities for both companies.The Five Star Alliance and Signature Travel Network position will allow us to offer hotels and cruises that are not available online. You’ll have unprecedented access to supplier relationships and rate plans in the marketplace.”Additionally, leverage Five Star Alliance’s unique search engine to discover special offers, last-minute deals and more on luxury accommodations around the world. We plan to provide it. It will be rolled out to both B2C and B2B users, allowing them to jointly develop new luxury hotel programs. ”
John P. McMahon, CEO and majority shareholder of Five Star Alliance, said: “Five Star Alliance has a strong reputation for providing personalized service and expert luxury travel insights. We offer special rates, upgrades and benefits to our customers, and when we met Bill Kirby and understood his vision for travel purchases, we combined the strengths of NextTrip and Five Star Alliance. This further strengthens my belief that the future of travel planning will thrive: high-tech solutions with a personalized, high-touch approach that defines 5-star.”
Kirby added, “This acquisition gives NextTrip access to a luxury cruise contract and booking platform that will allow the company to leverage its existing staff, multi-million email marketing list, and Compass.tv platform. We will now be able to launch a new luxury cruise program using this.” Additionally, by bringing in-house the group travel booking agents that Five Star currently outsources, NextTrip expects to capture additional revenue and expand its consumer travel base. This aligns perfectly with the recent launch of NextTrip’s group booking service. platform. ”
NextTrip customers will now have access to Five Star Alliance Cruises services as one of the agency owners of Signature Travel Network, the world’s largest luxury cruise distributor. Benefits include special discounts, upgrades, onboard credits, prepaid gratuities, complimentary shore events, and more. Five Star Alliance luxury cruise passengers enjoy complimentary vehicle and guided shore excursions in exotic ports around the world.
“This acquisition is expected to add value through current program bookings as well as enhanced staff capabilities, expanded marketing efforts, and new integration opportunities. NextTrip and Five Star Alliance management said: , we expect this combination to accelerate sales growth and revenues. “The combined entity will ultimately increase value for all stakeholders,” Kirby concluded.
The acquisition will be funded through a combination of cash and stock based on NextTrip’s valuation of $3.10 per share, subject to customary adjustments. The initial funding (cash) required to purchase a controlling interest in Five Star has already been raised independently and the company plans to utilize Series I preferred stock. The preferred stock does not pay dividends and is convertible into NextTrip common stock at a price of $3.02 per share and into NextTrip common stock at a price of 9.99 shares. % limit on beneficial ownership. Transactions are expected to increase. The acquisition is expected to close in the fourth quarter of 2024, subject to definitive agreements and customary closing conditions.
About Five Star Alliance
Since 2005, Five Star Alliance has served as a leader in luxury travel by offering the most comprehensive and selected collection of luxury five-star hotels and resorts around the world. Five is backed by award-winning staff who guide and support guests throughout their journey. Star Alliance offers a full range of travel products, including airfare, transportation, luxury river and ocean cruises, group and conference services, and concierge services. Five Star has an industry-leading customer satisfaction rating of 4.9 stars on Trustpilot. For more information, please visit www.fivestaralliance.com.
About NextTrip
NextTrip (NASDAQ:NTRP) is a technology-driven platform that provides innovative travel booking and travel media solutions. NextTrip Leisure offers vacations for individual and group travelers to Mexico, the Caribbean, and some of the most popular and popular destinations around the world. NextTrip Media Platform – Travel Magazine provides a social media platform for our audience to explore, educate and share their ‘bucket list’ trips with friends. Additionally, NextTrip is launching an end-to-end content ecosystem that uses AI-assisted trip planning to acquire advertising, build brand awareness, reward loyalty, and drive bookings. For more information and to book your trip, please visit www.nexttrip.com.
Forward-looking statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Adopted as part of the Litigation Reform Act of 1995). precedes or follows words such as “believe,” “anticipate,” “estimate,” “expect,” “intend,” “plan,” “plan,” “outlook,” or “outlook,” or Descriptive words and expressions, including other words, or future or conditional verbs such as “will,” “should,” “would,” “may,” and “could” are generally forward-looking in nature; It’s not a historical fact. These forward-looking statements involve known and unknown risks, uncertainties and other factors. Important factors that could cause actual results to differ materially from those indicated in such forward-looking statements include, among others, the Company’s proposed acquisition of Five Star Alliance and its anticipated schedule for completion of the acquisition; Statements involve risks associated with them. , the expected benefits of acquisitions, and the Company’s future expectations, beliefs, plans, objectives, financial condition, assumptions or other statements regarding future events or performance that are not historical facts. This information may involve risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. These risks and uncertainties include, but are not limited to, the risk that the acquisition will not be completed at all or that events, changes or other circumstances may occur that may cause the termination of the non-binding letter of intent; Not limited to these. ;the risk that the proposed transaction would disrupt the Company’s current plans and operations; the risk that certain pending restrictions on the proposed transaction may affect the Company’s ability to pursue certain business opportunities or strategic transactions; Spending management time on transaction-related issues. the continued availability of capital and funds for the Company; the risk that announcements regarding the proposed transaction may adversely affect the market price of the Company’s common stock or its results of operations; and the risk that the proposed transaction and its announcement may adversely affect the retention and employment of key personnel, customer retention and the maintenance of relationships with business partners, suppliers and customers. The Company cannot guarantee that the acquisition will be completed or within the expected time period. The Company disclaims any intention to, and will not revise, any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. No obligation. For additional information regarding risks and uncertainties that may affect NextTrip’s forward-looking statements, see NextTrip’s Form 10 for the year ended February 29, 2024, filed with the SEC on September 4, 2024. Please refer to the disclosures contained in the company’s annual report and our report by -K. Additional filings with the SEC are available at www.sec.gov.
contact address
chris tyson
Vice President Executive Officer
MZ Group – MZ North America
949-491-8235
(email protected)
www.mzgroup.us
Source: NextTrip, Inc.
