Less than a month after wrapping up a successful 2017 event in Sydney, the Australian luxury travel trade forum, Luxperience, has been sold out of Australia to a US-owned company.

The sale to Diversified Communications Australia (still US-owned) was announced this week for an undisclosed sum.

Founder, Helen Logas described the sale of the six-year-old event as “emotional” as it’s success reflected the efforts of the team.

“I’m so proud of my team’s efforts in establishing it as a must attend event in the calendars of the global visionaries of the travel industry.”

Helen Logas, Luxperience Former Owner

“I know I am handing the baton on to a worthy company in Diversified Communications.”

Luxperience Helen Logas

Luxperience was founded by Logan in 2012 as a means of raising the profile of some of the world’s more unique travel experiences and products. At the time, Logas said she aimed to connect elite travel buyers with corporate meeting organisers from around the world.

Hard work and persistence saw the luxury and experiential marketplace grow to record numbers in 2017, with around 300 exhibitors from around the world and 450 elite travel buyers from Australia and key global markets.

New owners say they’re pleased with the acquisition and recognise the “excellent work” Helen and the team put in to “develop a strong brand”.

“As a premium event Luxperience – which features an invitation only hosted buyer model, awards and networking opportunities – is in a great position to understand and service the needs of this growing community,”

“It’s an industry we’re excited to be part of.”

David Longman, Diversified Communications General Manager

Luxperience 2018 2

But how will this acquisition affect future events?

As a buyer or event organiser, the acquisition shouldn’t be too disrupting.

Diversified confirmed it will retain the majority of Luxperience’s current team. They’ll transition to Diversified and move into a new office on Kent Street in Sydney.

Diversified said in a statement that keeping the team onboard would ensure “industry knowledge and relationships” remain within the business.

However, as with any purchase, Diversified said it aims to “further build on the success of this unique” event. KarryOn is awaiting comment how owners expect to achieve further growth.

“[We] will ensure that Diversified Communications is in the best possible position to continue to deliver Luxperience for the industry,” Longman said.

READ: Luxperience squeezes in 1,000 inspiring meetings in 3 days

What are your thoughts on the purchase?