Panoramic Universal has acquired Future Travels - a travel agency based in New York.

Future Travels is the consolidator with Air-India and Kuwait Airways and has a large business with other airlines such as Delta, Air France, Lufthansa, British Airways, American Airlines. Gross sales stood at $10 million per year, achieved through its client base of 600 big and small businesses and over 15,000 satisfied customers including NRIs.

The agency arranges summer tours to Alaska including Canadian Rockies and Denali National Park. Tours to India include Manas Sarovar, Kailas, Rajasthan, Kerala and other tourist attractions. It also conducts educational packages and honeymoon tours.

The company has acquired a controlling stake in an Indian travel agency Hi-Flyers Travel Services, a travel agency catering to premium corporate and HNI clients like Sharekhan, Akruti Foundation, SSKI, Jam Irrigation, Supreme Industries, Boroughs India.

"Panoramic has plans to launch a travel portal very shortly. We intend to offer a comprehensive travel solution to our customers, right from travel arrangements to staying in our own hotels," said Sudhir Moravekar, chairman of the Panoramic Universal

The company owns and operates in all nine hotels in US, India and New Zealand. Besides these it manages India's largest night club, AREA 51 in Pune. The company is looking at expansion in the hotel portfolio in India through greenfield projects as well as acquisition of running hotels. It has short listed Jaipur, Panvel (Mumbai), Kumarakom (Kerala) Pune, Thane (Mumbai), Durgapur (West Bengal), Usgoan (Goa) and Hyderabad as the destinations for its hotel projects.