Cook Acquisition Doubles Vision 2000’s Meetings Volume

Vision 2000, already the largest Canadian-owned and -operated travel management company, has reinforced its marketplace dominance with the acquisition of Sunquest Meetings + Incentives from Thomas Cook North America.

(See: Thomas Cook North America Sold to Red Label Vacations)

The purchase was announced two days after Thomas Cook North America said it was selling the rest of its divisions to Red Label Vacations, the privately-owned, Mississauga, Ontario-based online travel portal that operates as RedTag.ca.

The only change that Vision 2000 plans to make to its newly acquired division is the name. It will alter it from Sunquest Meetings + Incentives to Strategic Meetings + Incentives; the division will still be known as SM+i, the name under which it trades.  

Will double sales
The price of the purchase was not disclosed, but the value it brings to Vision 2000 is immense, according to Brian Robertson, the company’s chief operating officer.

“Vision 2000 already has a meetings and events business, but this acquisition will double the size of our overall meetings and incentives business.” he said “It will double our volume in gross sales.

“It’s a great fit for us and we gain a fabulous group of professionals in the meeting space.” The SM+i staff of about 30 people, including president Ellie MacPherson, will stay on under the new ownership.

Additional resources
The acquisition gives Vision 2000 additional resources to handle all facets of meetings and incentive business for existing clients.

It also allows the company to offer additional products and services in corporate and leisure travel to the SM+i client base, Robertson said.

“One of the things that is key, particularly in the incentive area, is the large number of pre- and post-trips that people go on. With our membership in Virtuoso, it’s a good fit from that standpoint as well,” he added.

Vision 2000 profile
With more than 30 full-service and on-site locations across Canada, Vision 2000 employs more than 400 travel professionals and processes more than $530 million in annual sales.

In addition to meetings and incentives, the company handles corporate and leisure travel along with international group tours.