First Choice Buys Meridian Travel

Local incoming tour operator Meridian Travel was purchased recently by the British tour operator First Choice. Julia Laganopoulou, Meridian’s managing director, says there will be no change in the company’s management for the next three years, but that the company will begin expansion plans next year.

Athens-based Meridian, with branch offices on Mykonos, Santorini, Skiathos and Rodos, employs about 90 people. The company, founded in 1979, posted revenue last year of around 22 million euros, up from 12.9 million posted the year before.

First Choice has purchased more than seven European travel companies over the past few years, including the incoming department of Triaena Tours and Congress. The company says it prefers to buy major players in the countries it wishes to operate rather than opening new offices so as to take advantage of the knowledge and skills of a local network already in place.