Moves in the tours and activities sector this morning as Intrepid Travel acquires the remaining stake in Thailand-based Urban Adventures.
Urban Adventures (TLabs here) was set up in late 2009 as a joint venture between WHL Group and Intrepid Travel.
Intrepid Travel has now acquired the remaining 50% to take full ownership of the tours company.
A statement says the company has grown quickly and is "on course carry 70,000 passengers on 265 trips in 90 cities this year."
Revenue growth in the first quarter of the year is reported to be up 60% and the company also continues to expand with the launch of new destinations including Singapore this month.
According to Intrepid Travel boss James Thornton there has been a'huge appetite' for unique local experiences'
Urban Adventures general manager Tony Carne is staying on to oversee new initiatives.
Intrepid is planning further expansion in the region next year The statement says the deal will free up WHL to focus on other businesses such as Hotel Link Solutions.