TBO Tek Limited, a global travel distribution platform, has acquired 100% ownership of Classic Vacations, LLC for $125 million through its subsidiary TBO LLC, in a move that strengthens its position in the US luxury travel market.
The deal was financed via inter-corporate loans, internal accruals, and credit facilities backed by corporate guarantees. Classic Vacations, a premium travel services provider with over 50 years of industry experience and a network of more than 10,000 travel advisors, will continue to operate independently under CEO Melissa Krueger.
TBO Tek highlighted that the acquisition aligns with its goal of becoming one of the world’s leading travel-tech platforms. By retaining Classic Vacations’ established brand identity and leadership team, TBO aims to expand its footprint in the premium outbound travel market, while leveraging its vast global network of 159,000 buyers and 1 million suppliers across over 100 countries.
Summary:
TBO Tek has acquired Classic Vacations for $125 million to strengthen its presence in the US luxury travel segment. Classic Vacations will continue to operate independently, preserving its established brand under CEO Melissa Krueger. The acquisition aligns with TBO Tek’s global growth strategy, boosting its premium outbound travel offerings while expanding its luxury travel market share.
Disclaimer:
This article is intended solely for educational and informational purposes. The securities or companies mentioned are provided as examples and should not be considered as recommendations. Nothing contained herein constitutes personal financial advice or investment recommendations. Readers are advised to conduct their own research and consult a qualified financial advisor before making any investment decisions.
Investments in securities markets are subject to market risks. Please read all related documents carefully before investing.