Luxury travel group Western & Oriental plc has added a European villa offering to its business after it bought Villa Select in a cash and share deal.

Luxury travel group Western & Oriental plc has added a European villa offering to its business after it bought Villa Select in a cash and share deal.

Western & Oriental acquired the Warwickshire-based company that rents luxury villas across the Mediterranean as part of its strategy to consolidate the luxury travel segment of the market.

The deal is worth £2.4 million with a deferred sum due equivalent to the pre-tax profit of the business in the 11 months to October if agreed targets are achieved next year.

Despite the vendors retiring following the completion of the deal, co-founder Roger Ball has been retained as a consultant to help integrate the business into Western & Oriental.

Western & Oriental is a tour operator, travel agent and conference and incentive organiser offering a tailor-made service and specialist packaged holidays.

This deal follows Western & Oriental’s acquisitions in July of Eclipse Conference Management for an initial £3 million sum and tour operator Key2Holidays.

Villa Select, which was founded by Roger and Pamela Ball in 1983, has a portfolio of 190 villas for rent in destinations such as Majorca, Menorca and Javea on Spain’s Costa Blanca.

The company generated a pre-tax profit of £400,000 in the year to November 2006, from a £5.8 million turnover.