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Mumbai-based company Panoramic Universal acquires New York-based Future Travels

New York, Dec. 24, 2007
Surinder Singh

The Mumbai-based company, Panoramic Universal Ltd acquired Future Travels, a New York-based travel agency, through its wholly owned subsidiary in the US, Panoramic Ace Properties. Future Travels has been operational in the US market for 30 years, the biggest consolidator of Air India and Kuwait Airlines and has revenues of $10 million.

Sudhir Moravekar, Chairman, Panoramic Universal said:

  • Panoramic Ace Properties has also set up a subsidiary named Travel Universe Inc. to manage its operations.
  • The trade name will remain Future Travels.
  • At present, the agency primarily focuses on international ticketing. However, the company plans to enhance its offerings for the leisure segment, with special focus on the inbound sector.
  • In November 2007, the company had acquired Hi-Flyers Services Pvt. Ltd., an Indian travel agency
  • TravelBiz Monitor, the group is also scheduled to launch an online portal by June 2008
  • Both the agencies can then assist each other in handling the ground management once the tourist arrives in the other country
  • We intend to offer a comprehensive travel solution to our customers right from travel arrangements to staying in our own hotels
  • We are also looking at acquiring travel agencies in Europe to compliment the inbound as well as outbound tourism for all these countries

Panoramic Universal own the Pancard Clubs in Baner Hils, Pune. They also own hotels:

  • India : Graciano Cottages, Goa; Sai Sahavas, Shirdi; Sagar Kinara, Malvan. Area 51 India's Finest, Biggest revolving Entertainment Lounge.
  • New Zealand: Sai Motels, Auckland.
  • USA: Holiday Inn, Hudson, Ohio; Econolodge, North Carolina; Comfort Inn, North Carolina; Georgian Resort, New York; United Inn, North Carolina

The company is looking ahead to a synergistic drive with the combination of its hotel, time share and travel business.Panoramic Universal involves:

  • In Software Products E-Business Consulting: HRMS, Network Marketing, Payroll, Sales & Distribution, Housing Society Accounting in India
  • Get more business by going online. Design secure portals, intranets, extranets and even EDI through us, Panoramic Universal Ltd.
  • Software Solutions Software Development offer customized software solutions in India, US, UK for ERP, Payroll, Inventory, Hotel Management, . Panoramic Universal Ltd. areas of proposed specialization, is in Hospitality, Airlines, Commercial, Manufacturing Industry.
  • Data Processing IT Training (Overseas) provided are Data Entry, Data Conversion, OCRing, Keyboarding Panoramic Universal Ltd. has tied up with CDAC (India) for providing IT Training in New Zealand, UAE and US.