My Travel offloads WTC to Travelocity

British package holiday group My Travel has sold World Choice Travel to Travelocity, the online holiday operator, for $50m (€42.7m) in cash.

The sale of WCT, a US group that sells hotel rooms online, follows the disposal of the group's cruise business for £66m (€94m).

My Travel had earlier off-loaded two loss-making subsidiaries - Sun Trips and Vacation Express - for just under £10m. (€14m)

The heavily-indebted My Travel group said the sale of WCT was consistent with its strategy of disposing of non-core business.

160 WCT staff will transfer to Travelocity.

Travelocity chief executive, Sam Gilliland said the acquisition would provide additional growth in hotel sales.

"By expanding our distribution capabilities, we can offer more customers more great deals and additional services while helping our partners sell their products to an even broader set of consumers," Gilliland said.

Shares in MyTravel traded at 19p (0.27c). on the London Stock Exchange this morning.