TBO Tek Expands in Luxury Travel, Buys Classic Vacations
India-based global travel distribution platform TBO Tek has announced plans to acquire Classic Vacations in an all-cash transaction valued at up to $125 million.
Classic Vacations, a nearly 50-year-old luxury travel company headquartered in the US, is known for its well-established brand. Its network includes over 10,000 luxury travel advisors and partnerships with travel suppliers. Classic Vacations specializes in premium travel experiences, such as private yacht charters, luxury safaris, and personalized tours.
The $125 million purchase price is partially supported by a $70 million corporate guarantee from Standard Chartered Bank.
TBO Tek plans to keep Classic Vacations as an independent brand to maintain its long-standing supplier partnerships and advisor loyalty.
Recent notable acquisitions also include Japan’s JTB acquiring Northstar Travel Group, MCR Hotels buying Soho House, and OYO acquiring Airbnb management platform MadeComfy.
Photo by Claudio Poggio on Unsplash
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