Wholesalers

Intrepid follows the lead of rival G Adventures and lets private investor in

Intrepid Travel has announced a strategic partnership with French-based investment company Genairgy, which has secured a minority equity stake in the travel wholesaler.

The strategic partnership will help Intrepid achieve its goal of becoming the world’s first billion-dollar adventure travel company by 2025.

The agreement will support Intrepid in four key growth areas: digital transformation, product innovation, market expansion and purpose initiatives.

Intrepid co-founders Darrell Wade and Geoff Manchester, who started the business in 1989,  retain majority ownership of the company and remain on the board as chairman and director,  respectively.

James Thornton will continue as Intrepid’s CEO and a member of the board, and non-executive directors Liz Savage and Sarah Morgan will also continue in their board roles, with Genairgy owner Julien Leclercq the only new board addition.

“As the travel industry starts to recover from the pandemic, we remain focused on building the best travel company for the world,” Thornton said.

“The fact that Genairgy and Intrepid have come together at this time demonstrates real confidence in the future of sustainable experience-rich travel. It’s clear that what was once considered a niche will become a mainstay tourism model post-COVID.”

Genairgy is no stranger to investing in the travel industry. It owns destination management company Altai and has an adventure travel division with several investments in the sector.

“We are excited to find a partner with the same values as us and we look forward to helping  Intrepid achieve its full potential as we emerge from the global pandemic,” Leclercq said.

“While Intrepid has maintained an impressive history of growth, it was their genuine commitment to sustainable travel and B Corp credentials that truly set them apart.”

The transaction is expected to complete by early April 2021, and follows a similar one nutted out between G Adventures and Certares last month.



SEE WHAT PEOPLE ARE SAYING

Leave a Reply

Tourism

ATEC tickled pink with Labor Party tourism funding promise

As professional journalists, we at Travel Weekly remain completely unbiased when it comes to political matters. However, we’re just going to leave this here…

Share

CommentComments

Tourism

“The time is right”: industry legend, Barry Mayo, retires after 60+ years in travel

We think we speak for everyone when we say we can’t imagine an Australian travel industry without this industry stalwart!

Share

CommentComments

Tourism

Tourism Western Australia partners with AAT Kings and showcases WA wildlife to Sydney

Rumours are that part of the collaboration deal is that the AAT execs all get free camel rides whenever they want, which we completely understand.

Share

CommentComments

Cruise

Humans of Antarctica

Travel Weekly joined Aurora Expeditions for an Antarctic circle expedition and met some amazing travellers who waited over two years for the adventure.

Share

CommentComments

Travel Agents

Flight Centre scores whopping government contract

Work for Flight Centre? Your tax dollars could now be contributing to your own salary, according to our vague understanding of the ATO.

Share

CommentComments

Aviation

Start-up airline, Bonza, to embrace Uber model

However, it’s not yet confirmed whether the pilots will be willing to give life advice to drunk passengers, like the rideshare app.

Share

CommentComments

Midweek Interview

Midweek Catch-up with UnCruise Adventures’ Kirsty Bozlee

We’re not sure how to UnCruise… and when we asked the company’s vice president of operations, she thought we were joking.

Share

CommentComments

Events

Travel DAZE to feature Aussie film premiere!

We’ve got another spate of fabulous speakers to announce for Travel DAZE 2022 as well as a surprise big reveal.

Share

CommentComments

Conferences

PHOTOS: ATE goes off with a bang

If you’re like one unlucky Travel Weekly reporter who has COVID, these pics will help you live vicariously through the conference-goers.

Share

CommentComments

Aviation

Qantas’ new long-haul flights could cost over $18,000

For this price, we’d hope that the flights come with a complimentary mani-pedi and a pet bunny called “Fluffy” to keep us company during the flight.

Share

CommentComments

News

Returned special events to hit Seoul this month

The Travel Weekly criteria for what makes an event special is whether they have Tim Tams – although we can make exceptions for international events.

Share

CommentComments

Wholesalers

Intrepid debuts its first all-female leadership team

Rumour has it, Beyoncé’s Run the World (Girls) could be heard blasting from Intrepid’s Australia office moments after they announced this news.

Share

CommentComments