Established island holiday firm Regency Travel, which has nine staff and has close links with TT travel and accommodation, is gradually winding down its business and will be closing later this year.
The company says it will not be taking any new bookings other than in relation to the forthcoming TT Races and the Isle of Man Festival of Motor Racing.
The normal Regency Travel website, www.regencytravelholidays.co.uk is being taken down.
But the website for TT breaks, in relation to Regency being the official Isle of Man TT Travel Partner, will continue as normal at www.iomttbreaks.com
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Regency stresses that all existing customer bookings will not be affected and both ABTA and ATOL bonded cover for those bookings remain in place.
The shock news was first broken by ABTA, the leading association for travel agents and tour operators.
John de Vial, director of financial propositions and financial services told the Manx Independent: ’Simplify Management Services Limited trading as Regency Travel of Douglas, is in the process of a business reorganisation and will be leaving ABTA membership by September 30, 2017.
’The company has agreed to cease taking any new bookings other than in relation to the Isle of Man TT Races and Grand Prix of Summer 2017.’
He added that the normal Regency travel website ’will be taken down and cease to operate.
’The ABTA numbers will remain valid in respect of bookings for the 2017 TT Races and Grand Prix until membership ends. www.iomttbreaks.com will operate for that purpose.’
London-based Mr de Vial added that Regency has been a member of ABTA since 2008. He said ABTA realised the importance of the TT to the island’s economy.
Regency confirmed the news in a statement: ’Regency Travel which operates from 64 Duke Street, Douglas, has announced it is in the process of gradually winding down its business and will be closing later in the year.’
A spokesman said: ’Regency is the official provider of travel and accommodation services to the Department of Economic Development in respect of the Isle of Man TT races and the Isle of Man Festival of Motorsport and it will complete its obligations under that agreement which was due to terminate in September 2017 in any event.’
Regency added: ’Any questions should be addressed to staff at Regency Travel who can be contacted on 694455 or by email to [email protected] or by calling into the shop which will remain open for the foreseeable future.’
The Department of Economic Development later issued a statement.
It said: ’Regency Travel has advised the Department of Economic Development that it is implementing a structured and managed winding down of its Isle of Man based business.
’The company, which is ABTA and ATOL bonded, will complete its contractual obligation to the Department as the official provider of travel and accommodation services to the 2017 Isle of Man TT Races and Isle of Man Festival of Motorcycling and will then cease trading after September 2017.
’The company has confirmed to the Department that all bookings for both events made through the company will be fulfilled.
’The Department of Economic Development is already preparing for a tender process to identify a new long-term travel and accommodation provider for both events and will release details in due course.
’It is intended that the new partner will be in place to provide travel and accommodation services for both events from 2018.