It’s not about being greedy: G Adventures

It’s not about being greedy: G Adventures
By Anne Majumdar


The “inevitable” end of the PEAK adventure travel group venture has worked to the advantage of G Adventures, according to founder Bruce Poon Tip

In July last year, Intrepid confirmed that it was splitting with the TUI group, ending the four-year partnership as a result of “changing market trends” with co-founders Darrell Wade and Geoff Manchester taking back full ownership of the original adventure travel brand they founded in 1989, as well as the portfolio of brands that make up the Intrepid Group.

TUI replaced its PEAK division, which included Intrepid, with a new Adventure Specialist Division which now includes the brands Quark Expeditions, Zegrahm Expeditions, International Expeditions, Exodus, Headwater, TrekAmerica, Grand American Adventures, Sawadee, World Challenge and AmeriCan Adventures.

Speaking to Travel Weekly, Poon Tip said the creation of PEAK had been driven by “greed” and had damaged the industry.

“What is not good for the industry is when all these owners sold out their companies to TUI to greenwash their business with dollar signs in their eyes,” he said.

“They all had these designs of merging these companies, consolidating the industry, rolling it public and all making millions of dollars.”

Poon Tip highlighted the unique nature of each of the businesses involved as a reason for the venture’s failure.

“So when they all tried to corral together, they didn’t fit like pieces in a puzzle,” he said.

“Instead it just devastated some of the greatest companies in our space.”

He claimed companies that had been involved in PEAK had been reduced to “just shells of their former selves”.

“They’ve lost so much momentum, so much time – it’s a mess,” he said.

“We were on the outside of all that and their main objective was to come after us to destroy us, but ultimately it was the best thing that could have happened to us.

“Because we’re fulfilling our purpose as a business and along the way it didn’t involve merging with 18 other brands and going public to make buckets of cash.”

Of course, being profitable is still of utmost importance for the business, Poon Tip hastened to add.

“Make no mistake, we’re an aggressive profitable business and I want to be bigger, more aggressive and more profitable,” he continued.

With future growth and creating a great working environment both important for Poon Tip, he underlined the company’s main priority as “changing the way people travel”. He highlighted initiatives such as its Women on Wheels enterprise which sees women in India given the means and the know-how to operate airport transfers, and its effort with the International Development Bank to grow the tourism industry in destinations such as Haiti and Colombia.

“People are travelling to the 40 poorest countries in the world on cruises and all-inclusives and all that money’s getting sucked right out of the country. That is not sustainable,” Poon Tip said.

“We believe travel could be the biggest form of wealth distribution and be a force for good.”

Image credit: iStock

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