Claire Moore becomes sole owner of Peakes Travel Elite after completing a share buyback from partners.
- Moore acquired the remaining 50% shares from Frances and Russell Peake, the agency’s founders.
- The transaction, concluded on September 30, does not alter daily operations per Moore’s statement.
- Prompted by the pandemic, Peakes Travel Elite has restructured, downsizing from a team of 15 to 6.
- Plans for a boutique high-end agency continue, with no expansions except a potential apprentice hire.
Claire Moore, managing director of Peakes Travel Elite, has solidified her role as the sole proprietor by completing a share buyback. She has acquired the remaining shares from the agency’s founders, Frances and Russell Peake. Originally joining the agency in 2001 and becoming managing director and a 50% shareholder in 2015, Moore’s acquisition marks a new era for the Shrewsbury-based travel agency, which began in 1992. Despite this significant ownership change, Moore assures that the alteration has no effect on day-to-day operations, emphasizing, “It’s daunting but I’ve got every faith in the team and in this business, so it’s exciting as well.”
The completion of this transaction was delayed due to the financial strains induced by the pandemic, which necessitated the reallocation of previously earmarked funds to maintain business operations. The agreement was finally signed on September 30, approximately three years past the initial target date. This delay encouraged the agency to reassess its corporate structure and focus, resulting in a streamlined team reduced from 15 to six individuals. Such changes reflect a conscious decision to realign with the agency’s original boutique ethos in response to lessons learned during the pandemic.
Following the structural changes, Peakes Travel Elite operates on an appointment-only basis, allowing for tailored client interactions and service. Moore reflects on the past, stating that pre-pandemic success led to over-expansion, with more personnel necessitating increased business generation to support the larger team. However, the pandemic afforded an opportunity to redefine the agency’s business model towards a more sustainable and focused high-end service.
In line with their redefined ethos, Peakes Travel Elite’s event strategy remains active, with plans for their third annual holiday show slated for November. Last year’s event proved to be the most successful yet, attracting 13 tour operators and nearly 90 clients, underscoring the brand’s commitment to specialised touring and adventure experiences. Moore notes a notable increase in sales during the November event, achieving comparable turnover to February of the same year, which is traditionally a busier period for travel bookings.
Claire Moore’s acquisition marks a strategic consolidation for Peakes Travel Elite, focusing on sustainable growth.
