Australian fair trading authorities have raided unit complexes managed by travel company S8, which is taking over Gullivers Travel.
More than 50 police and Office of Fair Trading officers descended on nine complexes, executing warrants to search and copy data from the company’s computer records, the Gold Coast Bulletin reported yesterday.
Most of the properties, it believed, were under the S8 umbrella.
The action followed accusations of S8 double-dipping on fees by redirecting holidaymakers to book holiday units through its retail and wholesale businesses including Harvey World Travel, the Gold Coast Booking Centre, the Sunshine Coast Booking Centre, and Accom Noosa.
S8′s share price on the Australian Stock Exchange fell 18c yesterday to A$3.25, despite an announcement that the company’s full-year result would be 10 per cent ahead of guidance with an A$20.1 million net profit.
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