The group released a statement this morning revealing that the management team of the specialist operator had completed a mangement buy-out.
It added that "as of 31 August 2016, Discover Egypt will become part of Platinum Holidays Ltd."
It said All Leisure Holidays would "continue to meet the demands of the growing tour and cruise markets with its brands Travelsphere, Just You, Swan Hellenic, Hebridean Island Cruises and Voyages of Discovery".
According to Companies House Platinum Holidays Ltd was incorporated on May 17 this year. Its three directors are All Leisure Group’s chairman and director Roger Allard; All Leisure Holidays commercial director Philip Breckner and All Leisure Holidays director David Wiles.
The latter have jointly created and managed the Discover Egypt brand over the last 18 years from within the All Leisure Group.
Discover Egypt will now operate under a different Atol and Abta number, however director Philip Breckner insisted to TTG that all staff would remain at the company, with no changes to its website or phone numbers.
He added that the move had been planned “for some time”. “Discover Egypt didn’t quite fit the profile of the group, this was something that was discussed and planned long ago.”
Breckner said business for the company, which operates tours in classical Egypt, had remained “steady” despite the UK ban of UK flights to Sharm el Sheikh which he admitted had created “misperceptions about the country”.
“We are selling Nile cruises on a daily basis. Our cruise programme always has a break over the summer months, but on September 5 our first winter cruise will start and we’ve got groups booked every week.
“There have been misperceptions in the market because of Sharm el Sheikh. We’re not seeing the volume that we saw three years ago, but we’re seeing regular visitor numbers. We’re not seeing a bounce back quite yet, but there’s a steady flow of passengers and clients.
“Discover Egypt as a brand has always been profitable, and it still remains profitable,” he added.
