Scott Dunn offers a range of luxury travel packages.Credit:iStock
Scott Dunn is well known in the UK for its range of luxury travel experiences,from heli-skiing in Canada to luxury safaris in Kenya.
Flight Centre’s global leisure chief executive James Kavanagh said Scott Dunn had grown strongly throughout COVID and was a unique proposition to capture the younger end of the travel market.
“They attract a younger,more affluent customer. A typical[customer] is 35 to 45 years of age,” he said. By comparison,Flight Centre’s core customers are an older audience,at 51 years of age on average.
Luxury holidaymakers spend big on their adventures and the Flight Centre team highlighted on Tuesday that they are much more resilient to cost-of-living pressures than the typical consumer. The average value of a holiday booked through the Scott Dunn business is $39,000.
“The consumers in this segment are increasingly looking for more meaningful experiences... they are less susceptible to economic downturns,” Kavanagh said.
Funds for the acquisition will largely come through an institutional placement to eligible investors at $14.60 a share,which is a 7.8 per cent discount to where shares closed at $15.83 on Monday.
The company will also offer shares to retail investors,which aims to raise up to $40 million.