In a major step forward, the Medine Group decided to acquire Concorde, a travel agency and Destination Management Company, which has been active for over four decades in Mauritius, in order to incorporate it as part of its operations. This acquisition of Concorde, one of the Top 5 local travel agencies and the number 1 Destination Management Company (DMC) in Reunion Island, completes and strategically consolidates the Group’s positioning of its Leisure cluster.
The relationship between Medine and Concorde is nothing new. The Group has been mandated for several decades by the Eudcos Group to provide management and strategic support to Concorde and the Group’s other companies. While the acquisition of Concorde by Medine in December seems natural, it is part of a well-thought-out strategy by the Group, which aims to become a major player in the local and regional tourism sector, particularly in the development and management of tourism activities.
“Tourism is one of the key sectors of the Mauritian economy. The Medine Group already has a solid foothold in this industry with major assets such as Casela World of Adventures, which is the most visited park on the island, Yemen Experience, which we recently launched, and #Tamarina, with its combined Golf and Hotel package. The acquisition of Concorde consolidates our strategic position in the leisure industry and we are confident that the synergies with our various entities will benefit each one of them and as such, their customers as well.” explained Thierry Sauzier, CEO of Medine Group.
With proven expertise in the local and regional market spanning over forty years, Concorde, an IATA-approved travel agency, is one of Air Mauritius’s main airline ticket issuers. The Concorde Travel Agency has consolidated its leading position in the market by serving a 95% corporate clientele, including major local and international groups.
The company has also built its reputation by positioning itself as a DMC, first on a regional level since it currently makes up more than 80% of hotel tourist arrivals from Reunion Island; but also on an international level, since it represents important Tour Operators, loyal to the Mauritian destination.
“The arrival of Thierry Sauzier at the head of the Medine Group in October 2017 had already greatly reinforced Concorde’s proximity to the Group’s operations. This acquisition, which is for us a valorisation of Concorde’s talents, is extremely well perceived by our team, who already considered themselves as part of the Medine family. The news was also extremely well received by our partners, for whom the Medine Group is a sure bet and whose new focus and dynamism is attracting a lot of interest.” added Bruno Lebreux, Executive Director of Concorde.
By joining the Medine Group, Concorde is thus securing more strategic development options in view of the Group’s ambition to reinforce the positioning of its Leisure cluster.