Operator strikes specialist sector deal with Australia’s Intrepid Travel
Tui Travel is to join forces with adventure tourism specialists Intrepid Travel with a view to creating a global leader in the field.
The venture will combine Intrepid, which has more than 100,000 customers per year worldwide, with Tui’s Adventure business, which covers the UK, the Netherlands, Australia and North America with over 240,000 customers per year.
Adventure had revenues amounting to €82.5 million for the year to the end of June, with pre-tax profits of €6.3 million. Intrepid earned pre-tax profits of just over €8 million for the financial year to the end of September on the back of revenues totalling €220 million.
The new combined company will be 60% owned by Tui, 40% by Intrepid’s shareholders. Darrell Wade, the founder of Intrepid, will be chief executive.