A Young Dream Collapses - The End of Dreamticket
The dream is over for travel technology firm Dreamticket.com as the firm announced it ceased trading today; only two months after it had managed to secure an investment deal from private equity group Hatfield Investments.
Just in 2008, a mere 3 years ago, Dreamticket Holidays was a bouyant and promising young business, included in The Sunday Times Tech Track 100 list that featured the UK's fastest-growing technology companies. Today, the picture is much different. There is gloom and doom surrounding the company and casting a huge shadow over the Dreamticket brand, as of 23rd May 2011 the travel company has announced to the public that it has officially ceased trading.
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Despite substantial promises of investment from a new backer only two months ago, Dreamticket Holidays owner Selsdon Travel has closed the curtains and hung the trading hat for good.
Back in March it was reported that private equity investment firm Hatfield Investments, had bought a majority of shares in the long-haul online specialist and call centre. At the time Hatfield had said it was planning to acquire more travel companies with the aim of catapulting "Selsdon Travel into the top 20 travel companies in the UK" ...So much for those dreams turned to cloudy dust as Dreamticket can dream no more. Its trading eyes have shut to the travel world.
Dreamticket Holidays had an ATOL and was also a member of ABTA. The Croydon-based firm was the third biggest UK operator to the Maldives and it specialised in destinations in the Middle East such as Dubai holidays, as well as Indian Ocean holiday destinations. The firm was bonded to carry 17,300 passengers a year through its Atol and also traded as Holiday Master.
A statement addressed to customers currently abroad on a Dreamticket holiday, was released on the operator’s website a few hours ago and reads : “The CAA will be making arrangements to ensure customers of Dreamticket can fly home at the end of their holiday."
For customers still due to travel with the firm, the statement reads as follows: “Customers who made a direct booking using a credit card should contact their credit card provider. All other customers should make a claim from the CAA.”
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