TUI Travel Adventure Brands, Intrepid Travel Form Joint Venture

TUI Travel Adventure Brands, Intrepid Travel Form Joint Venture

Intrepid Travel and TUI Travel PLC have agreed to enter into a strategic venture that they say will create an independently managed global leader in adventure travel. The proposal will combine Intrepid Travel with TUI Travel’s international portfolio of adventure brands to create PEAK Adventure Group.

PEAK Adventure GroupD will be run by an experienced management team with a solid background in the adventure travel sector. Darrell Wade, the co-founder and CEO of Melbourne-based Intrepid Travel, will become CEO of the new venture and the board will be chaired by John Wimbleton, managing director of TUI Travel PLC’s Specialist & Activity Sector.

The remaining PEAK Adventures Board members will be newly appointed Managing Director Geoff Manchester and Matt Beard from Intrepid Travel, Darren Mee and Jackie Watson from TUI Travel, and Bob Welsh, former CEO of VicSuper Pty Ltd who joins as an independent director. The executive team reporting to Wade will be made up of six senior figures across both companies and the managing directors of the individual businesses.

The company’s said the proposed strategic venture will have no impact on the existing trade and business relationships of any of the brands within PEAK Adventures. “With the adventure travel market set to grow significantly in the coming years, this new venture will firmly position PEAK Adventures as the sector’s global leader,” said Wade.