Tui Group and the founders of Intrepid Travel have announced they are to end their PEAK Adventure Travel Group venture.
The decision to end the four-year partnership means that Intrepid’s co-founders Darrell Wade and Geoff Manchester will take back full ownership of the brand and the portfolio of brands which make up the Intrepid Group.
Wade will continue as chief executive and will work alongside James Thornton, who will be the first managing director of the group, which comprises Adventure Tours Australia, Geckos Adventures, Intrepid Travel, Peregrine Adventures, The Family Adventure Company and Urban Adventures.
Wade said: “Over the last four years we’ve seen huge growth in the adventure travel sector globally. Whilst the formation of PEAK served all brands well at the time, we now recognise that we have different priorities and business philosophies.
“As a privately-owned travel company we will come out of this venture in a really exciting position. We’ve been observing emerging trends across the adventure travel sector globally, and now we can work quickly with our destination management companies and industry partners to grow the market for authentic local experiences that truly benefit both travellers and the places they visit.”
Wade said his team would continue to work closely with Tui in a number of areas to ensure it was “business as usual for our industry partners”.
Tui has created the Adventure Specialist Division which will sit within the operator’s Specialist Group portfolio, bringing together Exodus, Headwater, TrekAmerica, Grand American Adventures, Sawadee, Quark Expeditions, Zegrahm Expeditions and International Expeditions.
Until now Sawadee operated under the PEAK umbrella and Quark Expeditions, Zegrahm Expeditions and International Expeditions operated within the Specialist Group’s North American Specialist Division.
The new Adventure Specialist Division also includes UK based World Challenge and AmeriCan Adventures.
The Division will be led by managing director Hans Lagerweij and will report into Martin Froggatt.
Lagerweij said: “The way people holiday continues to evolve. Looking at the way people enjoy adventure travel, it has become apparent that two increasingly distinct styles have emerged and that the appetite for more unique, higher-end and active experiences will only increase over the coming years.
“In order to best serve these markets and remain leaders within our fields we believe it is the right time to divide PEAK’s brands to concentrate on the adventure traveller’s changing needs.”