Two discount travel agencies that have competed for more than a decade announced July 28 that they will begin cooperating through business and capital tieups.
H.I.S. Co. and Map International Co. also said they are leaving the door open to a possible merger. "We have been rivals for the past 15 to 16 years," said Tsuyoshi Mori, president of Map International. "But we share a sense of crisis in that the tourism industry will not have a bright future if the current trend of excessive competition continues. "We hope to change the landscape of the industry."
Akira Fujita, president of Shikino Tabi Co., another travel agency, also expressed his intention to join the tieup in the near future. Said Hideo Sawada, president of H.I.S.: "The tourism industry is big business, but if hotels, transportation and tourism are combined, it can be a major industry."
H.I.S. began as a discount ticket vendor, has begun buying into hotels and plans to enter the airline industry. Map and H.I.S. will cooperate in product planning, overseas transactions and marketing and personnel exchanges, which will include board members.