Having embarked on an aggressive expansion strategy in recent years, JTB Corp has just announced an agreement to acquire 40 per cent shares of Panorama Tours Indonesia (PTI) to grow its Indonesian outbound business and inbound business into Japan.
Following the acquisition, which is scheduled to complete on March 24, 2017, JTB Jakarta branch will be integrated into PTI while the PTI trade name will be changed to Panorama JTB Tours to promote the new brand in Indonesia market.
Panorama JTB Tours will seek a three-pronged strategy, including expanding leisure travel from Indonesia by leveraging PTI’s strong sales channels and the Panorama JTB brand; growing corporate and MICE business in Indonesia; and increasing Japan inbound business through promoting new and major destinations in the country.
One of the largest tourism groups in Indonesia, PTI was established in 1998 to boast more than 51 outlets and 800 employees across the archipelago.
