Gold Medal Travel has secured a new banking facility from the Royal Bank of Scotland as it plans to expand its range of holiday and long-haul flight packages and install new technology at its call centre on Portway by Preston docklands.

The firm employs more than 500 people in the city selling more than 500,000 airline tickets, 750,000 hotel rooms and 150,000 holidays every year.

Group finance director Steve Bacon said the firm was pursuing several opportunities for takeovers in the next year.

He said: "Over the next 12 months we have significant plans to grow the business and in particular to become the best long-haul and package holiday operator in the UK."

The company is also revamping its website to tailor its holiday packages and developing a new range of products for its luxury travel sector. It forecasts profits this year of more than £4.5m for the current financial year with significant increases in cash reserves.

RBS business development director Steve Lewis said: "Gold Medal is a great example of a strong local business that has grown organically on the back of a strong consumer offering to become a leading player in their market."

Earlier this month, the group divided into three companies under a major rebranding exercise – holidays and tour operator Gold Medal Travel, direct call centre and website operation Netflights and top-end travel firm Pure Luxury.