Elämys Group acquired tour operator Matka-Agentit and invests in future growth
In the middle of the COVID-19 outbreak in March, Finnish travel and event management agency Elämys Group initiated an investment and growth programme. The programme aims at growing significantly faster than the market and having a strong competitive position once the demand in the travel industry recovers.
As part of this programme, Elämys Group has carried out the following measures to support development and growth:
- Elämys Group secured additional financing until 2025. This financing ensures long-term operation and investments in growth, even if the recovery of demand takes longer than anticipated.
- Elämys Group purchased the business of Matka-Agentit Ltd on 1 June. Matka-Agentit has 13 employees that transferred to Elämys.
- Elämys invested in a new IT system in order to significantly improve customer experience and cost structure of booking processes.
- Elämys Group established a new unit called Elämys Tech and recruited Jari Auranen from Tietotalo as Elämys’ CTO to lead the Tech unit and commercialise the company’s IT knowledge.
- Elämys Group established a new unit called Elämys Cruises and recruited Petri Siren from Risteilykeskus to lead the new business area.
- Elämys Group signed a lease on new premises in central Helsinki. The new Elämys with its 40 employees will move to the new premises in August. The premises are three times the size of the current ones to allow future growth
Elämys Group has ongoing negotiations with several parties. CEO Pasi Latva says that new agreements and acquisitions will be announced in the summer:
- In March, the pandemic caused a major decline in Elämys Group’s estimated turnover, as it did in the whole industry. However, we succeeded in adjusting our costs and transferring our bookings to 2021. We shifted focus in the post-COVID world and took action to ensure that we are as strong as possible when the demand recovers. The supply and demand in the market is undergoing more changes than ever before, which is a huge opportunity for flexible and agile companies.
Pasi Latva, CEO / email@example.com / +358 400 700 328