Phil Hoffmann steps back as Helloworld buys into travel firm

After more than three decades in the travel game, SA businessman Phil Hoffmann is selling out his stake of the iconic business – but he says it’s not a full retirement.

For more than 30 years, Phil Hoffman has been synonymous with the travel industry.

But now the well-known South Australian businessman will ease into retirement after selling almost half of his iconic travel company Phil Hoffman Travel.

The 40 per cent share of the SA-based company was bought up by ASX-listed travel company Helloworld after its founder decided it was the “right time” to step away from day-to-day operations.

“Timing’s everything, I’m not getting any younger and I felt it was the right time to step down,” Mr Hoffman, 76, said.

“I’m not retiring but it will be less day-to-day, the financial worries come off and it frees me up to work on some projects that I’m really passionate about.

“I’ll still do radio, talks and sponsorships, I want to look at doing some podcasts and I want to help rebuild the cruise market after it was hit hard by Covid.”

As part of the deal, Phil Hoffman Travel chief executive Peter Williams will retain his 50 per cent stake of the business, while also taking on the roles of managing director and chairman of the board, which Mr Hoffman will sit on, and plans to continue growing the business.

Phil Hoffmann is selling out of the business he established more than 30 years ago. Picture: Russell Millard

“We see this strategic partnership as the perfect opportunity to invest in the unlocked

potential of Phil Hoffmann Travel and support our vision of growth and expansion, whilst providing our team with an exciting future, and supporting Phil’s transition into a well-deserved retirement after an amazing impact on our industry,” Mr Williams said.

Mr Hoffman said the coronavirus pandemic had been the biggest challenge of his career but was pleased with the company’s recovery to more than 150 employees, down from a peak of 176 before Covid-19 ravaged the travel industry.

“Looking back I’m very proud of the way we’ve been able to grow, especially coming out of Covid which was a huge challenge,” he said.

“We’re on track for one of our best years ever but that can only be sustained by putting on more staff and finding staff is a challenge.”

Mr Hoffman will remain executive director during a transition period of at least two years.

Mr Hoffman started the business, which has grown to nine locations across SA, in 1990 and has been a member of the Helloworld network since 2014.

Helloworld has the option to take over Mr Hoffman’s remaining 10 per cent share over the next three years.

Despite stepping away from operating his business, Mr Hoffman’s travel plans were still as busy as ever, with trips to Croatia, the Galápagos Islands, Egypt and the Kimberley on his radar.

The travel magnate said a recent trip to Lapland and Norway to see the Northern Lights was a highlight among the almost 140 countries he has visited.

“One of my ambitions for when I finally retire is to do a world cruise so that’s looking likely for 2026,” he said.