Travel agent Attraction Tickets sells to employees for £40 million

In the United Kingdom, a travel agency named Attraction Tickets, which specializes in selling tickets to Disney's theme parks in Florida, has transitioned to employee ownership. This acquisition by staff members marked a significant shift in ownership structure aimed at benefiting the employees in the long term. The deal valued the firm at £40 million. At that time, Attraction Tickets reported net revenues of £22 million and pre-tax profits of £6 million. With 900,000 tickets sold annually to British families visiting Disney, the company has established itself as a pivotal player in the travel market. Oliver Brendon, the founder of the agency, expressed a desire to create an ownership model that would sustain the workforce for years to come. He decided to sell all shares owned by him and other shareholders to the employees, making the firm one of the notable examples of this ownership structure in the industry. In this transition, 128 staff members not only took ownership but also saw bonuses exceeding £50,000 reflected in their payslips, demonstrating the immediate financial benefit resulting from this strategic move. This ownership change is part of a broader trend where businesses are seeking to avoid the pitfalls of private equity and instead focus on long-term employee engagement and success.