Saga sets sale plan for Titan and Destinology travel arms | Business News

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Saga, the FTSE 250 insurance and travel specialist, is exploring the sale of a cluster of its leisure businesses as it seeks to streamline its operations.

Sky News has learnt that Saga is working with bankers on the possible disposal of Titan Travel, which offers escorted holidays, and Destinology‎, an online provider of four- and five-star vacations.


Duff & Phelps, the professional services firm, has been hired by Saga to gauge the appetite of potential buyers.

City sources said on Monday that the two businesses could collectively command a price tag of about £100m.

The possible disposals are part of an effort by Lance Batchelor, the company’s chief executive, to focus on its Saga-branded businesses.

Destinology and ‎Titan Travel have been owned by Saga for five and 10 years respectively, but make only a modest contribution to the group’s earnings, the sources added.

The two cruise ships which operate holidays for Titan Travel customers – Saga Pearl II and Saga Sapphire – are due to leave service by June next year, the company said in January.

Mr Batchelor, who will update the City on Saga’s strategy when he presents its full-year results next month, has run the over-50s specialist since 2014.

He is also thought to have explored offloading non-core insurance assets in recent months, although these are not thought to be part of the work being overseen by Duff & Phelps.

A Saga spokesman declined to comment.


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