G.D.S. / C.R.S.
|August 31, 2004|
Travelocity Acquires Allstate Ticketing And Its Showtickets.com Website
|In a move expected to enhance its position in Las Vegas and broaden its ability to sell show tickets, attraction passes and other "travel extras" through its TotalTrip flight + hotel shopping engine, Travelocity and its parent company Sabre Holdings have announced that Travelocity has acquired Las Vegas-based All State Tours Inc., ("Allstate Ticketing") a leading distributor of show tickets and tours in the entertainment capital of the world. As part of the purchase, Travelocity acquires the Allstate Ticketing brand and the Web site, www.ShowTickets.com. |
The acquisition closed on August 30, 2004 at a purchase price of $25 million, paid in cash. Allstate will operate as a wholly owned subsidiary of Travelocity.com, LP.
"This is a move rich with synergies which will immediately benefit all of our Las Vegas-bound customers," said Travelocity CEO Michelle Peluso. "With Allstate Ticketing we look forward to solidifying our leading position as the best provider of travel experiences to Las Vegas. Beyond that, we will consider introducing Allstate's proven business model to other key leisure travel destinations. We also see tremendous opportunities to build upon the success of the ShowTickets.com Web site, as well as onward distribution of Allstate Ticketing content."
Allstate Ticketing currently offers tickets to 60 shows throughout Las Vegas and manages four box offices for four Las Vegas casinos -- Flamingo, Harrah's, Rio, and Sahara. The company also operates an additional 20 ticket booths throughout Las Vegas, including one at McCarran International Airport, and it owns exclusive rights to operate ticket booths at Hoover Dam. Additionally, Allstate sells tickets for tours of Hoover Dam, the Grand Canyon and Lake Mead. In 2003, the company sold approximately 30% of the show tickets in Las Vegas for venues with less than 2,500 seats.
"Most of all, we are very excited about the Allstate team," said Ross Mantione, Travelocity vice president partner marketing. "Adding almost 200 dedicated employees in Las Vegas to our Travelocity team is a big move for us with many benefits. It will allow us to significantly enhance our content and local on-the-ground marketing and customer support in Las Vegas, a destination immensely popular with our members."