Travel distribution platform TBO has acquired luxury specialist Classic Vacations for $125 million.
The acquisition combines TBO’s technology with Classic Vacations’ network of travel advisors and suppliers.
The U.S-based luxury specialist, owned by investment firm Najafi Companies, is said to have brought in revenue of $111 million and EBITDA of $11 million in 2024.
“We’re thrilled to bring Classic Vacations into the TBO family—the company’s longstanding delivery of outstanding services has earned the trust of its more than 10,000 travel advisors in the U.S., and their end customers, making them a seamless fit for our vision moving forward in the fast-evolving travel and tourism industry,” said Gaurav Bhatnagar, TBO’s co-founder and joint managing director.
Classic Vacations will continue as an independent brand but use TBO’s technology and distribution capabilities.
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“TBO’s tech-centric solutions are geared fully toward our travel advisor community,” said Melissa Krueger, CEO of Classic Vacations.
“TBO connects us to its first-class technology platform unlike what the wholesale market has ever had access to—allowing us to bring even more resources, tools and insider connections to our valued travel advisors.”
Classic Vacations was acquired by Najafi Companies from Expedia Group in 2021.
India-based TBO has made a number of acquisitions in recent years, including accommodation wholesaler Bookabed in early 2023 and travel distribution specialist Jumboline in December 2023.
In October of the same year, General Atlantic took a minority stake in TBO. A statement at the time said TBO had gross transaction value of $2.7 billion in 2023.
TBO floated on the stock exchange in India in May 2024, raising approximately $180 million. It said at the time that it planned to pursue acquisitions.