HEAVY investment will be poured into Peak Adventure Travel Group (PEAK), the new strategic venture between TUI Travel and Intrepid Travel Australia that brings all their adventure brands under one independent business unit.
Asia, the group’s biggest destination, is poised to see increased volumes as PEAK harnesses the backing of a shareholder like TUI and the expertise of a specialist like Intrepid in anticipation of further growth among consumers worldwide for experiential travel.
Asked how PEAK was a strategic venture, PEAK’s CEO, Darrell Wade, formerly Intrepid’s CEO, told TTG Asia ITB Berlin Daily: “TUI is a huge mainstream player and while it has done a good job with its adventure brands, I think it is fair to say that it does not really understand them.
“The Intrepid management team has done nothing but adventure travel for 22 years and we’ve outpaced the growth achieved by the TUI adventure brands.”
Intrepid’s revenue alone has grown to US$130 million from US$27 million in the last decade, Wade said. This also proves the potential upside in the market in the years to come.
“Travellers in the western market are becoming more sophisticated in their needs as they become more experienced travellers,” he said. “Many now take two holidays a year, so they are experimenting more with the options. Some are determined to tick off global icons like the Taj Mahal or Angkor Wat and experience them fully. A safari in Africa is now an alternative for an August break! PEAK will capitalise on this change in consumer sentiment.”
– Full story in TTG Asia March 11