Luxury operator Caribtours has completed a merger with ID Travel Group, the company that bought a stake in it two years ago, in a bid to offer a wider range of trips, better customer service and “enhanced buying power”.
The businesses struck the deal in January, but it has now come into force and Caribtours chief executive Paul Cleary has joined the ID Travel Group board as chief commercial officer.
“I’ve gone from being in sole charge of Caribtours to now also being a shareholder of a bigger company,” said Cleary, adding: “We have done this merger as being part of a growing global luxury brand to give us a footprint across the globe is very exciting.”
Caribtours has 45 years’ experience of selling trips to the Caribbean, Indian Ocean, the Middle East and Europe, while ID Travel Group has 40 years’ experience selling four and five-star destinations in the Americas, South Pacific, Africa and Asia.
Cleary said: “This merger represents a significant step forward in our mission to provide the most luxurious and personalised travel experiences globally.
“Now with a strong presence selling luxury leisure travel in the US, Canada, Latin America, Australasia and the British and European markets, we are delighted to offer our supplier partners a new level of access and marketing presence.”
He added: “Agents will see no difference in the short or long-term. In fact, business couldn’t be better in the UK, so we don’t want to do anything to change that.”
The other board members of ID Travel Group are founder and chief executive Maurice Bonham-Carter, partner and chief operating officer Laurie Palumbo and partner and chief financial officer Padu Padmanaban.
Bonham-Carter said: “I’ve known Paul for over 30 years and I’m excited to bring this merger into fruition as we share the same values and vision.
“As a result of this collaboration, we feel the ID Travel Group is firmly positioned with a solid management team to maintain its position as the leader in luxury leisure travel.”
He went on to suggest further mergers or acquisitions would be a possibility, saying: “We are continuously looking for new opportunities to expand our global footprint to enhance our offerings.”
Palumbo added: “We are thrilled that combining our expertise and resources will allow us to offer an unmatched level of service and enhanced buying power across the worldwide travel advisor community, continuing to elevate client experiences.”
During an interview with Travel Weekly in July last year, Cleary said the merger would happen “when the time is right”.
Caribours had sold a stake to ID Travel Group for an undisclosed sum in 2022.
Pictured (clockwise from left): Padu Padmanaban, Maurice Bonham-Carter, Paul Cleary and Laurie Palumbo