Saha Group is expanding into tourism with the aim of serving leisure and incentive demand for more than 300 subsidiaries and outsiders.
Tiger Group Vacation Co (TGV) was introduced at the 17th Saha Group Fair yesterday.
Tiger Distribution & Logistics Co, a Saha subsidiary, holds a 49% stake in TGV with two individual shareholders, Chutiwut Suwanichkul and Chavis Kupattarapoke, holding the rest. TGV has paid-up capital of 2.5 million baht.
TGV president Vichien Kantathavorn said the company will provide tour and incentive activities for more than 300 companies under Saha Group and their business clients.
Apart from serving demand from Saha subsidiaries, TGV will penetrate the incentive tourism market through personal connections of Mr Chavis, TGV's managing director, who is also owner of TR Tour 1993.
TGV estimates around 30% of its customers will come from Saha Group and its subsidiaries.
The new company aims to be among the top five domestic travel companies in five years. It also wants to be the first travel company listed on the Stock Exchange of Thailand (SET) or Market for Alternative Investment (MAI).
Mr Vichien said the strength of TGV is its connections in the European market and relationship with airlines.
"We expect every airline will welcome us, and the name TGV will be widely known in five years," said Mr Chutiwut, TGV's executive director.
He is also the managing director of Majestic Travel International, which sells air tickets.
TGV will generate revenue of at least 30 million baht in the second half of this year thanks to support from Saha Group.
Mr Chutiwut expects to sell tour packages to 10,000 customers (about 30,000 baht per head) for revenue of 300 million baht and a profit of 10-20 million next year. If TGV wants to list on the SET or MAI, it needs to sell at least 50,000 to 60,000 tour packages per year. A big tour agent sells maybe 15,000 packages per year now.
Foreign travel agents are flocking to Thailand and are expected to dominate the market in five years.
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- Writer: Chadamas Chinmaneevong