Panoramic Universal acquires stake in Hi-Flyers

Mumbai: IT and hospitality company Panoramic Universal has acquired a controlling stake in Hi-Flyers Travel Services, a travel agency.

Hi-Flyers is a full service travel outfit providing international and domestic ticketing, package tours to popular destinations world-wide and forex services, among others.

“Panoramic has plans to launch a travel portal of its own very shortly. We intend to offer a comprehensive travel solution to our customer right from travel arrangements to staying in our own hotels," Chairman of Panoramic Universal Sudhir Moravekar said in a filing to the Bombay Stock Exchange.

“We are also looking at acquiring travel agencies across USA and the UK to capture the inbound as well as outbound tourism for all these three countries," he added.

Apart from India, the company also owns and operates hotels in USA and New Zealand.

Panoramic Universal is looking for hotel projects in places like Jaipur, Hyderabad, Kumarakom (Kerala), Durgapur (West Bengal) and Panvel (Mumbai), the filing stated.

In late afternoon trade, shares of the firm were trading at ₹ 103.40, up 5.46% on the BSE.

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