TBO Expands North American Presence with Acquisition of Classic Vacations
In a strategic business move aimed at solidifying its position in the luxury travel market, TBO (NSE: TBO TEK), headquartered in Gurugram, India, has announced the acquisition of Classic Vacations from The Najafi Companies, a Phoenix-based investment firm. The deal, valued at up to $125 million, marks a significant step for TBO to expand its offerings in North America, enhancing its portfolio in the high-end travel segment.
Classic Vacations is renowned in the industry as a B2B2C luxury travel company, leveraging its vast network of luxury travel advisors and providers. The integration of Classic Vacations with TBO's advanced technology platform and extensive inventory positions both companies for increased growth in the premium travel space. Classic Vacations recorded impressive revenue figures in the fiscal year ending December 31, 2024, boasting $111 million in sales and an operational EBITDA of $11.2 million.
"We are thrilled to welcome Classic Vacations into the TBO family. Their established track record of providing exceptional service has earned the trust of over 10,000 travel advisors in the United States and their clients," stated Gaurav Bhatnagar, co-founder and COO of TBO. He underscores the acquisition as a perfect match for TBO's future vision, especially in the rapidly changing travel and tourism landscape.
As part of the transition, Classic Vacations will continue to operate as an independent brand while benefiting from TBO's cutting-edge technology and distribution capabilities, aimed at further enhancing the business operations and customer service standards.
Ankush Nijhawan, co-founder and COO of TBO, emphasized that this acquisition is a strategic approach to investing in both organic and inorganic growth opportunities. He stated, "As we begin the integration of Classic Vacations into TBO, we remain open to similar strategic alliances in the future."
Melissa Krueger, CEO of Classic Vacations, expressed optimism about blending their renowned services with TBO's vast technological frameworks. "Together, we will strengthen Classic Vacations' position as a leading luxury partner in the market and expand our reach globally. This collaboration reflects the needs and expectations of our clients and supplier partners on an international scale," she said.
Moving forward, TBO's and Classic Vacations' combined resources intend to capitalize on the anticipated surge in luxury travel demand over the next decade. This strategic partnership not only aims to meet the evolving expectations of travelers but also to deliver sustainable value across all platforms including clients, vendors, and employees.
Classic Vacations, previously acquired by The Najafi Companies from the Expedia Group in 2021, is positioned uniquely with a proven value creation track record for its partners and travelers. Jahm Najafi, founder and CEO of The Najafi Companies, remarked, "This acquisition and partnership is a logical next step for Classic Vacations, and we are excited to have successfully collaborated over the past four years to enhance the strengths of the company in the luxury travel segment."
Financial advisors Moelis & Company LLC represented Classic Vacations in this transaction, while legal counsel was provided by Ballard Spahr LLP, with Cooley LLP advising TBO, and PWC acting as financial and tax advisors.
Established in 2006, TBO has become one of the leading travel distribution platforms globally, simplifying the buying and selling of travel products for partners around the world. Connecting over 159,000 travel buyers and 1 million travel suppliers across more than 100 countries, TBO aims to make global travel operations seamless.
Classic Vacations emphasizes personalized luxury travel experiences leveraging its strong ties with elite travel consultants and major American consortia, targeting bespoke, complex travel arrangements, supported by knowledgeable call centers for unparalleled customer service in various travel categories, including accommodations, flights, and experiences.
Ultimately, TBO and Classic Vacations' partnership is set to redefine the luxury travel landscape and accelerate growth in a highly competitive market, ensuring that they remain at the forefront of industry innovation and customer satisfaction.
Classic Vacations is renowned in the industry as a B2B2C luxury travel company, leveraging its vast network of luxury travel advisors and providers. The integration of Classic Vacations with TBO's advanced technology platform and extensive inventory positions both companies for increased growth in the premium travel space. Classic Vacations recorded impressive revenue figures in the fiscal year ending December 31, 2024, boasting $111 million in sales and an operational EBITDA of $11.2 million.
"We are thrilled to welcome Classic Vacations into the TBO family. Their established track record of providing exceptional service has earned the trust of over 10,000 travel advisors in the United States and their clients," stated Gaurav Bhatnagar, co-founder and COO of TBO. He underscores the acquisition as a perfect match for TBO's future vision, especially in the rapidly changing travel and tourism landscape.
As part of the transition, Classic Vacations will continue to operate as an independent brand while benefiting from TBO's cutting-edge technology and distribution capabilities, aimed at further enhancing the business operations and customer service standards.
Ankush Nijhawan, co-founder and COO of TBO, emphasized that this acquisition is a strategic approach to investing in both organic and inorganic growth opportunities. He stated, "As we begin the integration of Classic Vacations into TBO, we remain open to similar strategic alliances in the future."
Melissa Krueger, CEO of Classic Vacations, expressed optimism about blending their renowned services with TBO's vast technological frameworks. "Together, we will strengthen Classic Vacations' position as a leading luxury partner in the market and expand our reach globally. This collaboration reflects the needs and expectations of our clients and supplier partners on an international scale," she said.
Moving forward, TBO's and Classic Vacations' combined resources intend to capitalize on the anticipated surge in luxury travel demand over the next decade. This strategic partnership not only aims to meet the evolving expectations of travelers but also to deliver sustainable value across all platforms including clients, vendors, and employees.
Classic Vacations, previously acquired by The Najafi Companies from the Expedia Group in 2021, is positioned uniquely with a proven value creation track record for its partners and travelers. Jahm Najafi, founder and CEO of The Najafi Companies, remarked, "This acquisition and partnership is a logical next step for Classic Vacations, and we are excited to have successfully collaborated over the past four years to enhance the strengths of the company in the luxury travel segment."
Financial advisors Moelis & Company LLC represented Classic Vacations in this transaction, while legal counsel was provided by Ballard Spahr LLP, with Cooley LLP advising TBO, and PWC acting as financial and tax advisors.
Established in 2006, TBO has become one of the leading travel distribution platforms globally, simplifying the buying and selling of travel products for partners around the world. Connecting over 159,000 travel buyers and 1 million travel suppliers across more than 100 countries, TBO aims to make global travel operations seamless.
Classic Vacations emphasizes personalized luxury travel experiences leveraging its strong ties with elite travel consultants and major American consortia, targeting bespoke, complex travel arrangements, supported by knowledgeable call centers for unparalleled customer service in various travel categories, including accommodations, flights, and experiences.
Ultimately, TBO and Classic Vacations' partnership is set to redefine the luxury travel landscape and accelerate growth in a highly competitive market, ensuring that they remain at the forefront of industry innovation and customer satisfaction.
Topics Travel）
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